Crane NXT, Co. Announces Appointment of Hans Lidforss as Senior Vice President of Strategy

Rhea-AI Summary

Crane NXT appoints Hans Lidforss as Senior Vice President of Strategy to drive growth and M&A opportunities, aiming to reach $3 billion in revenues by 2028.

Brings Over 20 Years of Experience Leading Corporate Strategy and M&A for Multinational Organizations

WALTHAM, Mass.--(BUSINESS WIRE)-- Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a premier industrial technology company, today announced it has appointed Hans Lidforss as Senior Vice President of Strategy. In this new role, Mr. Lidforss will be responsible for advancing the Company’s strategy and creating new avenues for growth, including identifying and executing opportunities for M&A, growth ventures, and partnerships. Mr. Lidforss will report directly to Aaron W. Saak, President and CEO, Crane NXT.

Mr. Saak stated, “I am thrilled to welcome Hans to our team. Hans’ deep experience developing and implementing growth strategies for large multinational organizations will be a tremendous asset as we advance our plan to grow Crane NXT to $3 billion in revenues by 2028. I look forward to partnering with Hans to accelerate our growth and create compounding, long-term shareholder value.”

Mr. Lidforss stated, “I am honored to join Crane NXT at such an exciting time for the company. With a leading portfolio of trusted technology solutions that secure, detect, and authenticate customers’ most valuable assets, a strong financial foundation, and a long track record of innovation, Crane NXT is well-positioned to drive continued growth and expansion. I look forward to working with Aaron and the entire team to capitalize on these significant opportunities to strengthen our core business and expand into high growth adjacencies.”

Mr. Lidforss joins Crane NXT from Sensata Technologies, where he was Senior Vice President, Chief Strategy and Corporate Development Officer. During his nearly 10-year tenure at Sensata, he led 13 successful acquisitions and developed strategies to expand Sensata’s portfolio in IoT and electrification. Prior to Sensata, Mr. Lidforss was Senior Vice President, Corporate Strategy at Taleo where he developed strategies and led M&A activities to expand the product portfolio into new business and market segments. Previous roles include VP, Strategy & Corporate Development and Head of M&A within HP’s Technology Solutions Group where he increased the business’s global scale and scope in software, storage, and IT services. Earlier in his career, Mr. Lidforss held roles of increasing responsibility at GE where he led business development, operational improvement and integration activities. He started his career as a management consultant at McKinsey & Company.

Mr. Lidforss holds a Master of Science from the Linkoping Institute of Technology in Industrial Engineering and Management and an MBA from the Kellogg School of Management at Northwestern University.

About Crane NXT, Co.

Crane NXT is a premier industrial technology company that provides trusted technology solutions to secure, detect, and authenticate what matters most to its customers. Crane NXT is a pioneer in advanced micro-optics technology for securing physical products, and its sophisticated electronic equipment and associated software leverages proprietary core capabilities with detection and sensing technologies. Crane NXT has approximately 4,000 employees with global operations and manufacturing facilities in the United States, the United Kingdom, Mexico, Japan, Germany, Sweden, and Malta. For more information, visit www.cranenxt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227999053/en/

Crane NXT:

Rima Hyder

Vice President, Investor Relations

rima.hyder@cranenxt.com

www.cranenxt.com

Source: Crane NXT, Co.

FAQ

Who has Crane NXT appointed as Senior Vice President of Strategy?

Crane NXT has appointed Hans Lidforss as Senior Vice President of Strategy.

What will be Hans Lidforss' responsibilities in his new role at Crane NXT?

Hans Lidforss will be responsible for advancing the Company’s strategy and creating new avenues for growth, including identifying and executing opportunities for M&A, growth ventures, and partnerships.

What is Crane NXT's revenue target by 2028?

Crane NXT aims to reach $3 billion in revenues by 2028.

Where did Hans Lidforss work before joining Crane NXT?

Hans Lidforss joins Crane NXT from Sensata Technologies, where he was Senior Vice President, Chief Strategy and Corporate Development Officer.

What experience does Hans Lidforss bring to Crane NXT?

Hans Lidforss brings over 20 years of experience leading corporate strategy and M&A for multinational organizations.