M2 Appoints New Group CEO
[Stockholm, Sweden, October 16th, 2008] M2 Engineering AB has appointed Mr. Rick Hooper as Group CEO. Mr. Hooper replaces Carl Langenskiöld who will continue his involvement with M2 as Chairman of the Board of Directors, having a strong focus on the further development of the company’s solar cell activities.
Mr. Hooper brings a wealth of expertise to M2, particularly in the areas of large scale manufacturing and the development of new businesses. He spent 22 years with Philips, the last 8 of which were at executive level with overall responsibility for the company’s global production of compact fluorescent light tubes. He was then engaged for the restructuring of a small listed company. His most recent position before joining M2 was as CEO of a newly established company involved in the manufacture of precision metal components for the hard disk industry. Carl Langenskiöld, Chairman of M2 comments:
“I am very pleased to welcome Rick Hooper to M2. He brings solid management experience, in-depth knowledge and a proven track record of leading high-tech companies. M2's strategy going forward is to continue to further develop our core business of Optical Media. We aim to make M2 a market leader by continuing to offer the most cost-effective solutions for CD and DVD and by introducing unique and revolutionary equipment for Blu-ray Mastering and Replication. He will also lead M2 into new ventures and areas of business where he will combine his wide-ranging business experience with M2's expertise in thin-film technologies, precision plastic moulding and the design of highly efficient production machines to open up new areas of growth for the company. Finally, Rick Hooper will lead M2's flagship venture into the exciting field of thin-film solar cell manufacturing, drawing up and executing a long term plan for global expansion using M2's novel approach to this booming business sector. I myself am excited to return to my old position as Chairman of M2 and very much look forward to a long and fruitful cooperation with Rick Hooper.”
Mr. Hooper will be based in Thailand, which has become a key location for M2 following the establishment of the machine production facility at Amata Nakorn in 2006. This facility has a central role in the planned diversification and growth of the company.
Mr. Hooper comments on his appointment:
“I am very pleased to be joining M2 during these exciting and challenging times for the company. The predicated growth of the BD format offers good opportunities for M2 and the unique solutions being developed will position the company well to maintain a leading position in optical media. I am also looking forward to steering the growth of the company by diversification into other business areas. This includes the ongoing developments in thin-film solar cell technology as well as other areas where the proprietary technologies, core competences and global presence of the company can be applied.”
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