OSLO, NORWAY: Hexagon Composites (OSE: HEX.OL) announced that Jon Erik Engeset will step down as Group President and Chief Executive Officer. The Company will shortly commence a search process. Engeset will continue as CEO until the position is filled, following which he will continue to support the company in an advisory role.

“After 11 years at the helm, Jon Erik Engeset has decided to step down,” says Knut Flakk, Chair of the Board of Hexagon Composites.

“Under his management the Group has undergone significant transformation. The company has been successfully repositioned from primarily a composite cylinder manufacturer to an integrated clean fuel solutions provider. Top line revenues have increased more than five times, and the company has assumed globally leading market positions.

We thank Jon Erik for the passion, commitment, and leadership he has brought – and brings – every day to his work here at Hexagon.”

“I have had the great privilege of leading this group for more than a decade. It is now time for me to give higher priority to my family,” says Jon Erik Engeset. 

“The need to switch to clean energy requires urgent action from industry and governments alike and I take great pride in the contributions we at Hexagon have made together with our partners, customers, and suppliers. I predict that the market demand for our solutions will continue to grow at a very high pace in the years to come.”

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