XL Fleet Announces Leadership Change
Tod Hynes has been appointed Chair of XL Fleet's Board of Advisors and has stepped down as President and Board member, effective March 21, 2022. Hynes, a key figure in the company since its founding, will focus on initiatives aimed at reducing fossil fuel consumption and combating climate change. CEO Eric Tech expressed gratitude for Hynes' contributions and emphasized the importance of his sustainability-focused mission to XL Fleet's growth. The company remains a leader in electrification solutions, with over 180 million miles driven by notable clients such as Coca-Cola and Verizon.
- Tod Hynes' transition to Chair of the Board of Advisors may bring fresh insights and strengthen strategic leadership.
- Continued focus on sustainability aligns with growing market demand for decarbonization solutions.
- The departure of Hynes as President could create concerns regarding leadership continuity and experience gaps.
“We appreciate Tod’s commitment and many contributions to
“It has been a pleasure and an honor to build
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Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones, including the ongoing global microchip shortage and limited availability of chassis from vehicle OEMs and our reliance on our suppliers; the effects of competition on the Company’s future business; the availability of capital; changes in the preliminary financial results for the quarter ended
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Investor Contact:
xlfleetIR@icrinc.com
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