At a Glance:
- Exro announces three new Board candidates slated for
election at the Company's AGM, all of whom bring automotive, global
growth, and operational leadership experience.
- The proposed appointment of Aleksandra Miziolek, Anita Ganti, and Frank
Simpkins is additive to the Board's existing skillset in the
areas of audit, power controls technology, and legal/governance,
and supports Exro in advancing in growth, commercialization, and
profitability.
- This news follows the recent appointment of Interim Chairman
Rod Copes, who has since moved into
the position of Chairman, as voted on by the Board, demonstrating
execution of Exro's planned succession of the Board, aligning with
the Company's evolution into series production in Q3 of this year
and positioning for a Nasdaq listing.
- Jill Bodkin, Board Director
and Chair of the Audit Committee, will not be standing for
re-election due to planned retirement from Exro's Board.
CALGARY,
AB, June 8, 2023 /CNW/ - Exro Technologies
Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or
"Exro"), a leading clean-technology company that develops
new generation power-control electronics that expand the
capabilities of electric motors and batteries, today announced
three new candidates slated for election to its Board of Directors
at the Company's Annual General Meeting ("AGM"), scheduled for
June 30, 2023. The proposed new Board
members are esteemed leaders, all with commendable accolades in
global growth strategy and operational leadership. Following the
appointment of Interim Chairman Rod
Copes, who has since moved into the position of Chairman, as
voted on by the Board, this announcement aligns with the planned
succession of Exro's leadership and evolution into series
production in Q3 of this year, as well as its preparations for a
Nasdaq listing. Jill Bodkin, Board
Director and chair of the Audit Committee, has planned to retire
from the Board and will not be standing for re-election.
New Board members
include:
Aleksandra (Aleks)
Miziolek
Aleks Miziolek is an experienced
public company director, C-Suite leader, having most recently
served as the Chief Transformation Officer, General Counsel,
Corporate Secretary, and Chief Compliance Officer for
Cooper-Standard Holdings Inc., a global NYSE listed automotive
supplier. With deep international M&A experience, Miziolek has
been principally involved in advancing automotive supplier growth
strategies in Asian and European markets and in originating
significant automotive client relationships with Ford Motor
Company, Macquarie, Borg Warner, and
EADS. With experience working across multiple industry sectors,
including manufacturing/industrial, infrastructure, building,
financial services, and technology sectors, Miziolek would bring
extensive board and global M&A experience to Exro.
Anita
Ganti
Anita Ganti is a seasoned
executive and board member with a strong background in operations,
strategy and planning, product development, technology, and
business development, and well-versed in ESG, succession, risk, and
cyber-security threat management. As the former Senior Vice
President at Wipro, an Indian multinational corporation providing
engineering consulting, Ganti led P&L and operations to grow
revenues to over $600 million per
year of direct sales and $1.5 billion
per year with resales. If elected, Ganti brings depth in power
electronics, operating experience in building distribution
channels, sales operations, selling to industrial, automotive, and
high-technology sectors, and firsthand experience in creating scale
in electronics manufacturing services and semiconductor product
development corporations.
Frank P.
Simpkins
Frank Simpkins is an accomplished
board and executive leader, with applied knowledge in strategy,
operational and functional excellence, capital allocation
strategies, portfolio management, and change management. Having
recently served as Board Director of Power Solutions International
Inc., Simpkins has honed audit, risk, governance, and strategy
excellence in the clean technology sector. As former CFO of
Kennametal Inc., Simpkins would bring to Exro decades of financial
experience with global billion-dollar public companies, with
highlights including multi-billion-dollar raises,
hundred-million-dollar acquisitions, and maximizing company
profitability and returns in all economic environments.
"Aleks, Anita, and Frank, if elected, will bring proven
automotive, global growth, public company governance and technical
guidance to Exro, marking another evolution in our leadership as
the business matures," said Exro CEO Sue
Ozdemir. "We look forward to a successful AGM and welcoming
our new directors who add tremendous value from their experience
and network as Exro accelerates into its key growth stage. Finally,
on behalf of our employees and the Board, we thank Jill for her
years of dedication and service to Exro and we wish her the very
best in retirement."
ABOUT EXRO TECHNOLOGIES
INC.
Exro Technologies Inc. is a leading clean technology company
that has developed new generation power control electronics that
change how the world optimizes energy by expanding the capabilities
of electric motors and batteries. The company's innovative
technologies serve to bridge the performance-cost gap in e-mobility
(Coil DriverTM) and stationary energy storage (Cell
DriverTM), and act to accelerate adoption towards a
circular electrified economy by delivering more with less – minimum
energy for maximum results.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at
www.exro.com/investors
Visit us on social media @exrotech.
CAUTIONARY STATEMENT REGARDING
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects", "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "will be
taken", "occur" or "be achieved". Forward looking statements
involve risks, uncertainties and other factors disclosed under the
heading "Risk Factors" and elsewhere in the Company's filings with
Canadian securities regulators, that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Although the Company believes that the assumptions and factors used
in preparing these forward-looking statements are reasonable based
upon the information currently available to management as of the
date hereof, actual results and developments may differ materially
from those contemplated by these statements. Readers are therefore
cautioned not to place undue reliance on these statements, which
only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed times
frames or at all. Except where required by applicable law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
the Company with the Canadian securities regulators, including the
Company's annual information form for the financial year ended
December 31, 2022, and financial
statements and related MD&A for the financial year ended
December 31, 2022, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this press
release.
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SOURCE Exro Technologies Inc.