BBOXX CONSOLIDATES MANAGEMENT TEAM WITH APPOINTMENT OF CHIEF FINANCIAL OFFICER

BBOXX CONSOLIDATES MANAGEMENT TEAM WITH APPOINTMENT OF CHIEF FINANCIAL OFFICER…

BBOXX designs, manufactures and distributes solar consumer products to off-grid individuals and businesses across the developing world

BBOXX, has appointed Robin Claessens as the Group’s Chief Financial Officer. Following rapid technological, production and commercial successes into Africa and Asia in just three years, the Board has decided to bring robust capital markets, finance and institutional expertise into the company. This strategic decision will reinforce BBOXX’s ambitions to grow into a global and sustainable enterprise.

Claessens was previously CEO and Chief Investment Officer of the Invensys Pension Scheme, where he managed a $6.7bn billion fund with 85,000 members. Prior to this, he was Executive Director at Goldman Sachs, advising its corporate clients on mitigating the capital markets risks they incurred through their pension funds. He started his career working for Goldman Sachs’s CFO in the bank’s Treasury team in London.

One of Claessens’ priorities in 2013 will be to lead the launch of the Group’s finance arm, which will provide end customers with the funds necessary to join the electrified world.

Mansoor Hamayun, BBOXX co-founder, said: “Robin’s appointment signifies a new level of maturity for the company. When BBOXX was launched, we saw more than just a product – we envisaged a system, including a financial product that would foster lifestyle improvement and business growth, making an on-grid experience a possibility for all those living in off-grid locations. With his extensive experience, Robin is the ideal person to lead this venture.”

Claessens commented: “Solar energy has the power to change lives in the developing world; it’s safe, reliable and cost-effective. By removing consumers’ main obstacle to adoption – cost – we could be about to see a revolution in that part of the world.”