Xp Power Regulatory News (XPP)

21 Dec 2011 07:00

21 December 2011 XP Power Limited ("XP Power" or "the Group") Board Appointment

XP Power, one of the world's leading developers and manufacturers of critical power control components to the electronics industry, announces the appointment of Jonathan Rhodes as Finance Director with effect from 20 December 2011.

Jonathan Rhodes joined the finance team of XP Power in July 2008 as European Controller. Prior to joining the Group, Jonathan spent nine years with JCDecaux in various senior financial positions including Head of Financial Reporting and worked in both its UK and North American operations. Prior to that, he spent three years with Mills & Allen.

Mickey Lynch will retire from the Board with effect from 20 December 2011 and will stay with the Group in the position of Vice President responsible for Tax and Treasury. This will ensure continuity during this succession and also provide the Group with an enhanced focus on the tax and treasury areas.

Larry Tracey, Chairman of XP Power commented:

"Jonathan has made a significant impact since joining the Group and I am pleased to welcome him to the XP Power Board. His experience in both Europe and North America will be a great asset to the Group."

"On behalf of the Board I would also like to thank Mickey Lynch for his contribution to the Board over many years. We are delighted to be retaining his skills and experience within the Group, which will both aid a smooth transition of responsibilities and also strengthen our focus on the important areas of tax and treasury."

There are no further disclosures to be made under Listing Rule 9.6.13.

- Ends - Enquiries:XP Power

Larry Tracey, Executive Chairman +44 (0)7785 387142

James Peters, Deputy Chairman +44 (0)7785 353066

Duncan Penny, Chief Executive +65 8322 9520

Citigate Dewe Rogerson +44 (0)20 7638 9571

Kevin Smith/Jos Bieneman

Note to editors

XP designs and manufactures power controllers, the essential hardware component in every piece of electrical equipment that converts the power from the electricity grid into the right form for the equipment to function.

XP typically designs in power control solutions into the end products of major blue chip OEMs, with a focus on the industrial (circa 50% of sales), healthcare (circa 30% sales) and technology (circa 20% of sales) sectors. Once designed into a program, XP has a revenue annuity over the life cycle of the customer's product which is typically 5 to 7 years depending on the industry sector.

XP has invested in research and development and its own manufacturing facility in China, to develop a range of tailored products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency.

Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP serves a global blue chip customer base from 27 locations in Europe, North America and Asia.