LONDON, UK: XP Power, the designer and manufacturer of power converters for the electronics industry, has announced the appointment of Matt Webb as its new Chief Financial Officer (CFO) with effect from 4 September 2023. He will also join the Board of Directors of the company on 5 October 2023.

Matt Webb has over 25 years’ experience of working within international businesses at Group and Divisional level, giving him a broad strategic and operational skillset. He was previously the CFO of Luceco plc, a FTSE Main Market designer and manufacturer of LED lighting, EV charging equipment and electrical wiring devices, from February 2018 until April 2023. He also held various strategic and financial roles at Ferguson plc, the multinational building materials distribution business, including Finance Director for Ferguson’s largest division in the USA. He qualified as a Chartered Accountant with KPMG LLP and holds a degree in Engineering Science from the University of Oxford.

The appointment of Matt Webb follows an extensive search and selection process. The Board thanked David Stibbs, Interim CFO, for leading the finance team over the last five months and looked forward to his continuing contribution to the success of the Group.

Jamie Pike, Chair of XP Power, said: “I am delighted to welcome Matt Webb as CFO. He is an experienced CFO with a track record of bringing strategic, operational and financial improvements to growing, listed manufacturing businesses. We are confident that the wealth of skills and knowledge he has accrued in senior roles within large, international businesses will be a valuable asset to XP Power. XP Power has ambitious, global growth plans and we look forward to Matt’s contribution.”

Matt Webb added: “XP Power has enviable positions in attractive markets with clear long-term growth potential and I am delighted to be joining the Group at such an exciting time as it continues to lay the foundations necessary to maximise future progress.”