XL Fleet Announces Leadership Change
March 23 2022 - 7:30AM
Business Wire
Tod Hynes appointed Chair of XL Fleet’s Board
of Advisors; steps down as President and member of its Board of
Directors
XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a
leading provider of fleet electrification solutions, announced
today that Tod Hynes has been appointed Chair of its Board of
Advisors, and has stepped down as President of XL Fleet and member
of its Board of Directors to work with additional organizations
reducing fossil fuel consumption and combating climate change,
effective March 21, 2022.
“We appreciate Tod’s commitment and many contributions to XL
Fleet over the years,” said Eric Tech, CEO of XL Fleet. “XL Fleet’s
platform is built on Tod’s sustainability-focused mission founded
over 13 years ago. We look forward to building upon the vision he
established as we pursue new opportunities to address the growing
and evolving demand for decarbonization. On behalf of the Board and
management, we wish Tod continued success in his future endeavors
and look forward to his contribution to the Board of Advisors.”
“It has been a pleasure and an honor to build XL Fleet from its
foundation, as a fleet electrification pioneer,” said Tod Hynes. “I
look forward to seeing XL Fleet continue to innovate and deliver
value to its stakeholders under this experienced leadership
team.”
About XL Fleet
XL Fleet is a leading provider of vehicle electrification
solutions for commercial and municipal fleets in North America,
with more than 180 million miles driven by customers such as The
Coca-Cola Company, Verizon, Yale University and the City of Boston.
XL Fleet’s hybrid electric drive systems can increase fuel economy
and reduce carbon dioxide emissions, which are key components for
customer sustainability programs. For additional information,
please visit www.xlfleet.com.
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 September 30, 2021 upon
completion of the Company’s financial closing procedures or upon
review and completion of procedures by the Company’s independent
registered public accounting firm, and the other risks discussed
under the heading “Risk Factors” in the Company’s current report on
Form 10-K filed on March 1, 2022, and other documents that the
Company files with the SEC in the future. If any of these risks
materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. These forward-looking statements speak
only as of the date hereof and the Company specifically disclaims
any obligation to update these forward-looking statements.
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Investor Contact: xlfleetIR@icrinc.com
Media Contact: PR@xlfleet.com
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