Hammond Power Solutions Announces CEO Succession Plan
Posted: Mar 7,2023
Guelph, ON, March 7, 2023 – Hammond Power Solutions Inc. (“HPS” or the “Company”) (TSX: HPS.A) today announced the transition plan for Chairman and CEO, Bill Hammond, to move into the Executive Chairman role by the end of 2023 as part of a planned leadership succession process. Mr. Hammond is retiring from his CEO role after a 45-year career at HPS, a company started by his grandfather that has been in his family for more than 100 years. Mr. Hammond remains the largest shareholder of Hammond Power and directly and indirectly controls approximately 59.7% of the voting rights of the Company.
“After 22 years as the CEO, building the company that has been in my family for more than a century, it is time for me to hand over the day-to-day decision-making process to a leader that will continue to build the Company with the same commitment to innovation and to our customers that Hammond Power is known for,” said Bill Hammond, Chairman and CEO of Hammond Power Solutions. “I am extremely proud of the extended Hammond family and what we have accomplished together, and I look forward to working closely with the next generation of leaders as we shape the strategy that will allow the Hammond brand to continue to grow globally.”