Expion360 Announces Departure of Chief Financial Officer
Expion360 (Nasdaq: XPON) announced the resignation of CFO Greg Aydelott, effective December 31, 2024, due to family health concerns. CEO Brian Schaffner will serve as interim CFO, Principal Financial and Accounting Officer while the company conducts a search for a permanent replacement. Aydelott will continue as a consultant to ensure a smooth transition.
Schaffner, who previously served as CFO from March 2021 through January 2023, acknowledged Aydelott's contributions, including managing growth, strengthening the balance sheet, enhancing planning processes, and overseeing technology investments.
Expion360 (Nasdaq: XPON) ha annunciato le dimissioni del CFO Greg Aydelott, con effetto dal 31 dicembre 2024, per motivi di salute della famiglia. Il CEO Brian Schaffner assumerà il ruolo di CFO ad interim, oltre a ricoprire le posizioni di Principal Financial e Accounting Officer mentre l'azienda cerca un sostituto permanente. Aydelott continuerà a lavorare come consulente per garantire una transizione fluida.
Schaffner, che ha già ricoperto il ruolo di CFO da marzo 2021 a gennaio 2023, ha riconosciuto i contributi di Aydelott, inclusi la gestione della crescita, il rafforzamento del bilancio, il miglioramento dei processi di pianificazione e la supervisione degli investimenti tecnologici.
Expion360 (Nasdaq: XPON) anunció la renuncia del CFO Greg Aydelott, con efecto el 31 de diciembre de 2024, debido a preocupaciones de salud familiar. El CEO Brian Schaffner ocupará el cargo de CFO interino, así como también el de Principal Financial y Accounting Officer mientras la compañía busca un reemplazo permanente. Aydelott continuará como consultor para asegurar una transición sin problemas.
Schaffner, quien fue CFO desde marzo de 2021 hasta enero de 2023, reconoció las contribuciones de Aydelott, que incluyen la gestión del crecimiento, el fortalecimiento del balance, la mejora de los procesos de planificación y la supervisión de las inversiones en tecnología.
Expion360 (나스닥: XPON)은 가족 건강 문제로 인해 CFO Greg Aydelott의 사임을 2024년 12월 31일자로 발표했습니다. CEO인 Brian Schaffner는 회사가 영구적인 대체자를 찾는 동안 임시 CFO 및 Principal Financial과 Accounting Officer 역할을 맡게 됩니다. Aydelott는 원활한 전환을 보장하기 위해 컨설턴트로 계속 일할 것입니다.
Schaffner는 2021년 3월부터 2023년 1월까지 CFO로 재직했던 경험을 바탕으로 Aydelott의 기여를 인정하며, 성장을 관리하고, 재무제표를 강화하며, 계획 프로세스를 개선하고, 기술 투자 감독을 포함한 그의 역할을 강조했습니다.
Expion360 (Nasdaq: XPON) a annoncé la démission du CFO Greg Aydelott, effective au 31 décembre 2024, en raison de problèmes de santé familiale. Le PDG Brian Schaffner assumera le rôle de CFO par intérim, ainsi que celui de Principal Financial et Accounting Officer pendant que l'entreprise effectuera une recherche pour un remplaçant permanent. Aydelott continuera en tant que consultant pour garantir une transition en douceur.
Schaffner, qui a précédemment été CFO de mars 2021 à janvier 2023, a reconnu les contributions d'Aydelott, notamment la gestion de la croissance, le renforcement du bilan, l'amélioration des processus de planification et la supervision des investissements technologiques.
Expion360 (Nasdaq: XPON) gab die Rücktritt von CFO Greg Aydelott bekannt, mit Wirkung zum 31. Dezember 2024, aus gesundheitlichen Gründen in der Familie. CEO Brian Schaffner wird als interimistischer CFO sowie als Principal Financial und Accounting Officer fungieren, während das Unternehmen nach einem permanenten Nachfolger sucht. Aydelott wird weiterhin als Berater tätig sein, um einen reibungslosen Übergang zu gewährleisten.
Schaffner, der bereits von März 2021 bis Januar 2023 CFO war, erkannte Aydelotts Beiträge an, darunter das Wachstum zu verwalten, die Bilanz zu stärken, die Planungsprozesse zu verbessern und die Technologieinvestitionen zu überwachen.
- Former CFO will remain as consultant ensuring transition continuity
- Interim CFO (current CEO) has previous CFO experience with the company
- Unexpected departure of key executive (CFO)
- CEO taking on dual role could impact operational efficiency
Chief Executive Officer Brian Schaffner Appointed Interim CFO, Principal Financial and Accounting Officer
REDMOND, Ore., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, announced today the resignation of Greg Aydelott, Chief Financial Officer of the Company, effective December 31, 2024, due to family health concerns. Mr. Aydelott intends to remain available to the Company on an ongoing basis as a consultant to ensure a smooth transition.
The Company’s Board of Directors has appointed the Company’s Chief Executive Officer, Brian Schaffner, as interim Chief Financial Officer, and Principal Financial and Accounting Officer, effective December 31, 2024, and is conducting a search process to identify a new CFO. Mr. Schaffner previously served as the CFO of Expion360 from March 2021 through January 2023.
“On behalf of our Board of Directors, leadership team and employees, I would like to thank Greg for his outstanding service and commitment over the past three years," said Mr. Schaffner. "He has made significant contributions to Expion360’s success, including managing our growth, strengthening our balance sheet, enhancing our planning and budgeting process, and overseeing investments in new technologies and batteries.”
“This has been an incredible journey with talented people, and it has been a privilege to help lead this passionate team,” said Mr. Aydelott. “I look forward to following the success of Expion360 for years to come.”
About Expion360
Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On December 19, 2023, the Company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages.
The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.
The Company is headquartered in Redmond, Oregon. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the Company, visit expion360.com.
Forward-Looking Statements and Safe Harbor Notice
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Examples of such forward-looking statements include statements that use forward-looking words such as "projected," "expect," "possibility,” “believe,” “aim,” “goal,” “plan,” and "anticipate," or similar expressions. Forward-looking statements included in this press release include, but are not limited to, statements relating to the expected timing and impact of the executive transition, including Mr. Aydelott’s continuing role as a consultant to the Company, and the Company’s ability to build on its momentum and achieve its financial and strategic objectives. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements.
Company Contact:
Brian Schaffner, CEO
541-797-6714
Email Contact
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
XPON@mzgroup.us
www.mzgroup.us
FAQ
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