Wallbox Announces Additions to Board of Directors at Annual General Meeting

Rhea-AI Summary

Wallbox (NYSE: WBX), a leader in EV charging solutions, announced the addition of three new members to its Board of Directors during its 2024 Annual General Meeting. The new members include former Wallbox CFO Jordi Lainz, ABL Co-CEO Ferdinand Schlutius, and Generac Executive Vice President Paolo Campinoti. Lainz brings extensive financial expertise from his tenure at Wallbox and other companies. Schlutius contributes significant experience in EV charging solutions from his role at ABL. Campinoti adds global commercial expertise from his leadership roles at Pramac Group and Generac. These appointments aim to diversify and strengthen the board, positioning Wallbox for sustained global growth.

Positive

• Addition of three experienced directors to the board, enhancing strategic leadership.
• Diverse backgrounds of new directors bring financial, operational, and commercial expertise.
• Appointment aims to support Wallbox's long-term global growth objectives.

Negative

• No immediate financial impact or significant business development reported.
• Potential for boardroom restructuring challenges as new members integrate.

BARCELONA, Spain--(BUSINESS WIRE)-- Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging solutions, today announced the addition of three new members to its Board of Directors at its 2024 Annual General Meeting of Shareholders.

The three new Directors voted in by shareholders at this year’s Annual General Meeting include Jordi Lainz, who previously served as Wallbox CFO for close to six years; Ferdinand Schlutius, Co-CEO of ABL, a pioneer in EV charging solutions in Germany which was acquired by Wallbox in 2023; and Paolo Campinoti, Executive Vice President with commercial responsibility over EMEA, APAC and LATAM for Generac, which is a minority investor in Wallbox. Full bios on the three new Directors follow below.

• Jordi Lainz, Former CFO, Wallbox: Mr. Lainz serves as a member of the board. Previously, Mr. Lainz was Chief Financial Officer of Wallbox from 2019 to 2024. Prior to joining the Company, Mr. Lainz held the position of Corporate Director and CFO of Eurofred Group, a distributor of air conditioning and industrial heating systems, from June 2011 to February 2019. Prior to Eurofred Group, Mr. Lainz served as a director and member of the audit committee of Ficosa International, S.A., a global automotive supplier, from May 1998 to May 2011. Mr. Lainz holds an Economics degree from the University of Barcelona and is an auditor in Spain (Censor Jurado de Cuentas).
• Ferdinand Schlutius, ABL Co-CEO: Mr. Schlutius serves as a member of the board. Currently, Mr. Schlutius is Co-CEO of ABL, a pioneer in EV charging solutions in Germany, and the fourth company to join the Wallbox Group. Previously Mr. Schlutius was the Head of Sales for ABL Group. Mr. Schlutius studied for a Bachelor degree in Business and Economics at WU Vienna.
• Paolo Campinoti, Executive Vice President – International, Generac: Mr. Campinoti serves as a member of the board. Mr. Campinoti has served as Executive Vice President with commercial responsibility over EMEA, APAC and LATAM since the acquisition of the Pramac Group by Generac in 2016. Based in Italy, Mr. Campinoti also continues to serve as the CEO of the Pramac Group, a position held since 1995. Previously he worked within Pramac Group in several other managerial roles. In over 25 years of service to the Pramac Group, Mr. Campinoti has led the transformation of the Pramac Group from a local Italian company to a leading power generation manufacturer with global brand recognition and presence. Mr. Campinoti holds a Bachelor of Business Administration in Economics degree from the University of Florence. Mr. Campinoti served as the Chairman of the Industrial Business Association for the South of Tuscany and as honorary consul of Romania in Florence. Mr. Campinoti has also been the honorary consul of Bahrain in Florence since 2023.

“I’d like to welcome Jordi, Ferdinand and Paolo to the Wallbox board,” said Enric Asunción, CEO and cofounder of Wallbox and Executive Director of the Wallbox Board. “Each of our new directors join us with valuable and unique experience intended to further diversify our board to position Wallbox for continued long-term global growth.”

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s long-term growth. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," ""target," will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from geopolitical conflicts; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed under the heading "Risk Factors" in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240607290587/en/

Wallbox Media Contact:

Elyce Behrsin

Head of Public Relations

elyce.behrsin@wallbox.com

Source: Wallbox

FAQ

What changes were announced at Wallbox's 2024 Annual General Meeting?

Wallbox announced the addition of three new members to its Board of Directors: Jordi Lainz, Ferdinand Schlutius, and Paolo Campinoti.

Who are the new members added to Wallbox's Board of Directors in 2024?

The new members are Jordi Lainz, former CFO of Wallbox, Ferdinand Schlutius, Co-CEO of ABL, and Paolo Campinoti, Executive Vice President of Generac.

What experience does Jordi Lainz bring to Wallbox's Board of Directors?

Jordi Lainz has extensive financial expertise from his previous role as Wallbox CFO and various leadership positions in other companies.

How will the addition of Ferdinand Schlutius impact Wallbox?

Ferdinand Schlutius will bring valuable experience in EV charging solutions from his role as Co-CEO of ABL, which could enhance Wallbox's strategic planning.

What is Paolo Campinoti's background relevant to Wallbox?

Paolo Campinoti is the Executive Vice President of Generac with commercial responsibility over EMEA, APAC, and LATAM, and has led the Pramac Group's global expansion.

Why did Wallbox add new members to its Board of Directors in 2024?

Wallbox aims to diversify and strengthen its board to position the company for sustained global growth.