CEO to step down at listed cleaning tech company

Mark Nichols

Sustainable cleaning technology company business, Xeros Technology Group, says its CEO MArk Nichols has said he wishes to leave the business at the end of 2022.

Nichols who has been CEO at the Rotherham-headquartered company for six and half years and has overseen the company’s successful development of its two platform technologies and the securing if IP protection and licensing agreements.

Nichols said that he thinks the company would “now benefit from new leadership to deliver on the next phase of its growth journey”.

Klaas de Boer, chairman of Xeros, said: “After six and a half years of leading the development of Xeros we accept Mark’s desire for a career change and fully appreciate his reasoning for it.

The Company is now poised at the commercialisation stage of its development and Mark will leave the business very well positioned to grow significantly over the next 3+ years in partnership with global brands and manufacturers. They have the reach to deliver the benefits of our technologies to businesses and consumers across the globe.”

The Xeros board has now started the search for a new CEO who it says will have the “relevant skills and experience to complete a comprehensive commercialisation strategy for our exciting platform technologies.”

Nichols will remain with the business until 30 September 2022 to oversee a comprehensive and orderly handover to his successor. To mark his status as a “good leaver” and to “properly incentivise” him during the transition period, the board has made the decision to allow him to keep all outstanding options granted to him over the last three years under the terms of the EMI share option scheme and unapproved share option scheme, and to waive all unsatisfied performance criteria attaching to those options.