Appointment of new Chief Executive Officer

CAP-XX Limited

11 May 2023

 

Dissemination of a Regulatory Announcement that contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.

11 May 2023

CAP-XX Limited

("CAP-XX" or "the Company")

Appointment of new Chief Executive Officer

The Board of CAP-XX is pleased to announce the appointment of Lars Stegmann as Chief Executive Officer.

Mr Stegmann has spent more than two decades in international sales, project, and management roles. He has considerable experience in the field of power electronics, electronic components and systems, as well as an extensive sales and marketing background in the automotive, automation, industrial, marine and medical technology industries.

Prior to joining CAP-XX, Mr Stegmann worked as Vice President and General Manager of C&K, the electronic switch and component manufacturer which is now part of Littelfuse Inc.  In this capacity he had revenue, P&L and operational responsibility for the EMEA region, including management of C&K's highly automated production facilities in Europe.

Mr Stegmann has had extensive international business and market development experience in electronics and semi-conductors in senior sales management and business development roles with Molex Inc., IEE S.A., SMA Solar Technology AG, VISEDO Oy (now owned by Danfoss) and Phoenix Contact. 

Mr Stegmann holds an engineering degree (Dipl. Ing.) in power electronics and an MBA from Zurich International Business School.

Mr Stegmann will be based in Hamburg, Germany to be closer to many of CAP-XX's customers and investors.

Mr Stegmann's appointment to the Board is subject to approval from the Company's Nominated Adviser following the customary director due diligence processes required for an appointment of this nature.  A further announcement in this regard will be made in due course.

Patrick Elliottt, Chairman of CAP-XX, said:

"We are delighted to announce the appointment of Lars Stegmann as Chief Executive of CAP-XX.  Lars has an extensive results and customer focussed background in power electronics and international sales and marketing.  He joins CAP-XX as we drive the expansion of our sales and distribution channels, having largely completed the integration and commissioning of our capacity expansion at Seven Hill, Sydney."

For further information contact:

CAP-XX Limited Patrick Elliott (Non-Executive Chairman) [phone] Allenby Capital (Nominated Adviser and Joint Broker) David Hart / Piers Shimwell (Corporate Finance) Tony Quirke / Stefano Aquilino (Sales and Corporate Broking) [phone] Cenkos Securities plc (Joint Broker) Neil McDonald / Pearl Kellie [phone] Kreab (Financial PR) Robert Speed [phone]

More information is available at www.cap-xx.com

Notes to Editors:

CAP-XX (LSE: CPX) is a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems used in portable and small-scale electronic devices, and to an increasing extent, in larger applications such as automotive and renewable energy. The unique feature of CAP-XX supercapacitors is their very high power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics, and deliver similar benefits in automotive and other transportation applications. For more information about CAP-XX, visit www.cap-xx.com

 

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