This announcement contains inside information
25 July 2022
Xeros Technology Group plc
('Xeros' or the 'Company' or the 'Group')
Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, is pleased to advise that further to the announcement on 18 March 2022, the Board has concluded its search process and Neil Austin will be appointed as Chief Executive Officer, effective 1 August 2022.
Neil has extensive commercial sales and management experience in the global domestic appliance manufacturing industry, having recently served as Managing Director of Strix (U.K.) Limited, where his focus was on the consumer goods division including water filtration. Prior to this position, Neil was Chief Commercial Officer of Neurovalens Limited, and he previously held roles as Sales Director at Glen Dimplex, Consumer Goods division, and as Sales Manager at Whirlpool Corporation.
Klaas de Boer, Chairman of Xeros commented:
"We are delighted to welcome Neil as Chief Executive Officer of Xeros. Given his highly relevant background and experience, the Board is confident that he will assist in driving growth, with a clear focus on accelerating the adoption of Xeros's solutions at scale."
Neil Austin, incoming Chief Executive Officer of Xeros commented:
"With extensive experience in the domestic appliances industry, I have been aware of Xeros's revolutionary technology for many years. The opportunity to help the business continue its vitally important mission to improve sustainability in the laundry and garment sectors is both a privilege and an honour. I am confident that by building on the solid foundations laid by the team, we are ready for the commercial breakthrough that the technology deserves."
Outgoing Chief Executive Officer, Mark Nichols, will step down from the Board on 1 August 2022 and leave the Company on 30 September 2022.
Xeros Technology Group plc
Klaas de Boer, Chairman
Paul Denney, Chief Financial Officer
Tel: 0114 321 6328
finnCap Limited (Nominated Advisor & Broker)
Julian Blunt / Teddy Whiley, Corporate Finance
Andrew Burdis / Sunila de Silva, ECM
Tel: 020 7220 0500
Yellow Jersey PR
Sarah Hollins / Lilian Filips / Laurie Gellhorn
Tel: 020 3004 9512
Notes to Editors
POWERED BY SCIENCE, XEROS CREATE TECHNOLOGIES ENGINEERED FOR THE FUTURE
Born out of textile research and advancing new standards of performance and responsibility, Xeros' technologies revolutionise the way we make and clean our clothes, conserving water and preventing waste. Designed to impact industries and people on a global scale, Xeros transforms the performance, impact and economics of the fashion and washing machine industry.
Xeros enables the scaling of its innovations and impact by licencing its intellectual property to partners across the globe. Their work has, to date, created 38 patent families.
Xeros' technologies are already in use in major global industries, including commercial and home laundry and garment manufacture. So far, these technologies have saved millions of litres of water and could prevent billions of microfibres from ending in our oceans.
TO THE POWER OF CHANGE
The following information regarding the appointment of Neil Alexandre Austin, aged 43, is disclosed under Schedule 2(g) of the AIM Rules for Companies:
Current directorships and/or partnerships:
Former directorships and/or partnerships (within the last five years):
SNA Consulting LTD
Strix (U.K.) Limited
WHIRLPOOL UK PENSION SCHEME TRUSTEE LIMITED
There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.