14 September 2015
Xeros Technology Group plc
Mark Nichols appointed Chief Executive
Xeros Technology Group plc (AIM: XSG, "Xeros" or "the Group"), the innovative developer of a patented polymer bead cleaning system with multiple identified commercial applications, has appointed Mark Nichols as Chief Executive Officer with immediate effect. He takes over from Bill Westwater, who has decided to step down after seven years in the role. Bill will continue to work with the Group for a period of time to ensure a smooth transition.
Mark has more than 20 years' experience of senior business development, operational and financial roles in both large multi-national businesses and technology start ups in the chemical, energy and infrastructure sectors. He spent 18 years with the BOC Group plc, including three as CEO of the East Asia division, where he oversaw a period of sustained organic and acquisitive growth, before becoming BOC's Group Director of Strategy and Business Development.
More recently, he has led two cleantech start-ups: firstly as CEO and then Chairman of Encos Ltd, a provider of carbon negative building product technologies and latterly as CEO of CH4e, a developer of renewable energy generation and supply solutions.
The Group's results for the year to 31 July 2015 and current trading are in line with the Board's expectations. Xeros expects to publish its audited results in due course.
John Samuel, Chairman of Xeros, said:
"This development is a natural progression and we look forward to working with Mark to deliver further growth from Xeros' polymer bead technology platform. His experience in driving forward international businesses, combined with his expertise in developing new technologies, will greatly benefit the development of the Group.
"On behalf of everyone at Xeros, I'd like to thank Bill for his entrepreneurial and energetic leadership over the past seven years during which time we have evolved from an early stage concept business to a listed company with a fast growing presence in North America.
"We now have a proven bead cleaning technology which is being enthusiastically adopted by corporate customers in the commercial laundry world as well as being applicable in other markets beyond commercial laundry including leather.
"We all wish Bill well for the future."
For further information, please contact:
Xeros Technology Group plc www.xeroscleaning.com |
Via Instinctif Partners |
John Samuel, Chairman |
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Jefferies International (Nominated Adviser) |
Tel: 020 7029 8000 |
Simon Hardy / Harry Nicholas |
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Instinctif Partners |
Tel: 020 7457 2020 |
Adrian Duffield / James Gray |
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AIM Disclosure Rules
Mark James Nichols, 58, is currently a director of the following companies:
· Non-executive Director of Encos Ltd
· Partner at Scimus LLP
· Non-executive Director of Manor House Manor House Properties sp. z o.o.
During the five year period up to the date of this announcement, Mr Nichols has also served as a director of the following companies of which he is no longer a director:
· Executive Director of CH4e
· Executive Director of Encos Ltd
· Non-executive Director of Xtract Energy Plc
· Non-executive Director of Sudscape Ltd
Mr Nichols resigned as a Director of Sudscape Limited in August 2014, the Company was placed into administration in September 2014.
Mr Nichols holds no shares in Xeros
There are no other matters falling within Rule 17 and Schedule 2 paragraph (g) (iii) to (viii) of the AIM Rules to be disclosed
