Amsterdam 2 May 2024, 8 AM CET. Cabka N.V. (together with its subsidiaries "Cabka", or the "Company"), a company specialized in transforming hard to recycle plastic waste into innovative Reusable Transport Packaging (RTP), listed at Euronext Amsterdam, announces that its Supervisory Board will nominate Alexander Masharov (1980) for appointment by the shareholders of Cabka as member of the Management Board and Chief Executive Officer. If appointed, Alexander will succeed Tim Litjens, who announced in March 2024 his intention to step down and leave Cabka by the end of the third quarter 2024. An Extraordinary General Meeting of Shareholders shall be convened in due course to resolve on the appointment.
If appointed, Alexander Masharov will join Cabka NV as of 1 August 2024 to allow for a seamless CEO succession. Cabka's strategic goals remain unchanged, and it is on target to deliver on its commitments.
Alexander Masharov stated: "I am truly excited to join the Cabka team, where passion for innovation fuels dedication to sustainability. Together we will advance our ESG goals and continue our commitment to recycling, creating meaningful value for our employees, customers and shareholders, and a healthier planet for future generations."
Niek Hoek, chairman of the Supervisory Board commented: "We are delighted to welcome Alexander Masharov as our new CEO. Alexander is a dynamic, values-driven business leader who has a diverse background of experiences and expertise in global sales and plastics manufacturing. The Board looks forward to Alexander realizing the full potential of Cabka as a professional and innovative market leader in sustainable RTP, which delivers long-term growth and value for all its stakeholders."
Short resume of Alexander Masharov
Alexander Masharov is of Israeli nationality and joins Cabka from B&C International, a fully owned subsidiary of Spring Windows Fashion, backed by Clearlake Private Equity, for which he served as CEO. From 2013 to 2023 he held Managing Director roles within the KETER Group, a global FMCG plastics manufacturing company. Before joining Keter, Alexander worked as COO of BytPlast, where he oversaw Production, Warehouse & Operations.
Alexander holds a Master's degree in Industrial Engineering & Information Systems from the Technion Institute of Technology in Israel. He completed his MBA at the University of Haifa.
For more information, please contact:
Nadia Lubbe, Investor & Press contact
IR@cabka.com, or n.lubbe@cabka.com;
+49 152 243 254 79
www.investors.cabka.com
About Cabka
Cabka is in the business of recycling plastics from post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), like pallets- and large container solutions enhancing logistics chain sustainability. ECO products are mainly construction and road safety products produced exclusively out of post-consumer waste.
Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
Disclaimer
The content of this press release may include statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth, or strategies.
Readers are cautioned that any forward-looking statements are not guarantees of future performance. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. The Company undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.
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