Wallbox announces appointment of board observers to strengthen operational excellence

What’s Happening: Wallbox N.V., a leading provider of electric vehicle (EV) charging and energy management solutions, has appointed two board observers, Dr. Dieter Zetsche and Justin Mirro, who collectively bring over 70 years of automotive experience. Dr. Zetsche, Chairman of TUI AG and former Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz, and Justin Mirro, Founder and President of Kensington Capital Partners LLC, will serve as observers to provide guidance and direction to Wallbox as it continues to grow and shape one of the fastest growing market sectors.

Why It Matters: The appointment of Dr. Dieter Zetsche and Justin Mirro as board observers will bring invaluable industry expertise and guidance to Wallbox as the company expands partnerships with leading OEMs globally and further expands in North America operationally and with institutional investors. Their collective skills and expertise from operating and advising some of the world’s leading automotive companies will help Wallbox to continue to grow and shape the fast-growing EV charging and energy management solutions market.

Key Points:

  • Wallbox has appointed Dr. Dieter Zetsche and Justin Mirro as board observers to provide guidance and direction to the company.
  • Dr. Zetsche and Mr. Mirro will leverage their collective skills and expertise from operating and advising some of the world’s leading automotive companies to assist Wallbox in its future growth.
  • Dr. Zetsche brings over 45 years of automotive experience to Wallbox, having been a member of the Board of Management of Daimler AG from 1998 until 2019, during which he was also Head of Mercedes-Benz Cars.
  • Mr. Mirro has advised on over $70 billion of M&A, debt, equity and restructuring transactions for automotive companies and brings a vast personal network of industry leaders throughout the automotive supply chain.
  • Wallbox intends to seek shareholder approval to expand the size of its board and to elect Dr. Zetsche and Mr. Mirro as directors at the 2023 Annual General Meeting of shareholders.

Bottom Line: Wallbox’s appointment of Dr. Dieter Zetsche and Justin Mirro as board observers is a significant move to strengthen the company’s operational excellence and expand its industry expertise. With their combined skills and expertise, Wallbox will be better positioned to grow and shape the fast-growing market for EV charging and energy management solutions.

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