TORONTO, May 26, 2023
/CNW/ - Neo Performance Materials Inc. ("Neo" or the
"Company") (TSX: NEO) announced today the appointment of
Jonathan Baksh as Chief Financial
Officer and Executive Vice President, to be effective June 19, 2023.
Neo's Chair Claire Kennedy said,
"Following a rigorous search process, it is my pleasure to welcome
Jonathan to Neo. He joins the management team with a proven,
superior track record as a finance executive in capital-intensive
industries that create value in a volatile, global supply chain
environment. He is a consequential executive that drove working
capital improvements and oversaw growth. This positions him as a
excellent complement to Neo's management, as they execute the
magnetics growth strategy."
In his role as CFO and EVP, Mr. Jonathan
Baksh will lead Neo's global finance functions, such as
accounting, tax, internal audit, controllership, financial
planning, and treasury. He will be based at Neo's Toronto headquarters.
Mr. Jonathan Baksh's experience
spans from being the financial steward of value-added manufacturing
in the critical supply chains of semi-conductors to overseeing as
Divisional CFO of a multi-billion dollar global business unit in
the Electronic Manufacturing Services industry at Celestica's
Advanced Technology Solutions (ATS). Earlier in his career, he
delivered deployments of innovative finance operating and quoting
standardization systems across multiple manufacturing businesses.
He launched his career at General Electric's premier Internal Audit
leadership program, and eventually won the Annual Chairman's Circle
Award – the highest honor for outstanding performance. He holds
both the Chartered Professional Accountant and Chartered Management
Accountant designations.
Rahim Suleman, Neo's President
and Interim CFO who will assume the position of CEO and President
on July 7, 2023, when Constantine Karayannopoulos retires from the
Company, said, "I want to welcome Jonathan to the senior executive
team at Neo. His experience at Celestica and General Electric, in
businesses serving highly-regulated manufacturing customer
constituencies and of large capital projects, is critical for Neo's
successful execution of our short-term value creation and long-term
growth strategies."
Jonathan Baksh said, "Over the
past three decades, Neo has built a highly differentiated position
in rapidly growing markets of energy transition and clean
technologies. This places the business at the forefront of some of
the most interesting opportunities created from global supply chain
transformations. I am thrilled to be joining the Neo team and to be
building on that success."
About Neo Performance
Materials
Neo manufactures the building blocks of many modern technologies
that enhance efficiency and sustainability. Neo's advanced
industrial materials - magnetic powders and magnets, specialty
chemicals, metals, and alloys - are critical to the performance of
many everyday products and emerging technologies. Neo's products
help to deliver the technologies of tomorrow to consumers today.
The business of Neo is organized along three segments: Magnequench,
Chemicals & Oxides and Rare Metals. Neo is headquartered in
Toronto, Ontario, Canada; with
corporate offices in Greenwood Village,
Colorado, United States;
Singapore; and Beijing, China. Neo has a global platform that
includes 9 manufacturing facilities located in China, the United
States, Germany,
Canada, Estonia, and Thailand, as well as one dedicated research
and development centre in Singapore. For more information, please visit
www.neomaterials.com.
Cautionary Statements Regarding Forward-Looking
Statements
This news release may contain "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Generally, but not always, forward-looking information and
statements can be identified by the use of words such
as "plans", "expects", "is expected", "budget",
"scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or
the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur"
or "be achieved" or the negative connotation thereof. Specific
forward-looking statements in this news release include, but are
not limited to, the continued expansion of Neo's operations and
succession planning-related matters. In making the forward-looking
information in this news release, the Company has applied certain
factors and assumptions that are based on its current beliefs as
well as assumptions made by and information currently available to
the Company. Although the Company considers these assumptions to be
reasonable based on information currently available to it, they may
prove to be incorrect, and the forward-looking information in this
release are subject to numerous risks, uncertainties and other
factors that may cause future results to differ materially from
those expressed or implied in such forward-looking information.
Readers are cautioned not to place undue reliance on
forward-looking information. The Company does not intend, and
expressly disclaims any intention or obligation to, update or
revise any forward-looking information whether as a result of new
information, future events or otherwise, except as required by law.
For more information on Neo, investors should review Neo's
continuous disclosure filings that are available under Neo's
profile at www.sedar.com.
SOURCE Neo Performance Materials, Inc.