GEELONG, Australia - Carbon Revolution plc (NASDAQ:CREV), a leading manufacturer of lightweight carbon fiber automotive wheels, has announced the appointment of Robert A. Lutz as the new Chair of its Board. Mr. Lutz, a seasoned veteran of the automotive industry with a storied tenure at General Motors (NYSE:GM), takes over the role as the company embarks on a new phase of global expansion.
The change in leadership follows the recent Nasdaq listing of Carbon Revolution and the addition of US-based automotive executives to its Board in November 2023. James Douglas, the outgoing Chair, expressed pride in the company's achievements over the past 12 years and confidence in Mr. Lutz's ability to steer the company forward.
Mr. Lutz, who joined the Board in November 2023, brings a wealth of experience from his executive roles at General Motors, Exide Technologies, Chrysler, and Ford Motor Company (NYSE:F). His military background as a jet-attack aviator in the United States Marine Corps and his academic credentials, with degrees from the University of California-Berkeley, add to his distinguished profile.
As part of the Board transition, Chris Leary and Jonathan Magaziner from Orion Infrastructure Capital will also be appointed to the Board. This shift is part of a structured equity facility agreement with the capital firm. The reconstituted Board will consist of Mr. Lutz, CEO Jake Dingle, and other key members who bring a mix of experience and expertise to the company.
Carbon Revolution is recognized for its innovative approach to manufacturing carbon fiber wheels, supplying to high-performance, premium, and luxury car segments for some of the world's most prestigious automotive brands. The company aims to maintain its position as a significant and sustainable advanced technology business within the global automotive industry.
This announcement is based on a press release statement and contains forward-looking statements regarding the company's future performance and strategic direction.
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