XPEL Technologies Corp. Hires New Chief Executive
XPEL TECHNOLOGIES CORP. HIRES NEW CHIEF EXECUTIVE
– Strong Reputation in Automotive Industry –
– Multi-Year Operating Experience with XPEL –
San Antonio, Texas – June 11, 2008 The Board of Directors of XPEL Technologies Corp. (TSXV: DAP.U) announced today that Nuno Ferreira of Calgary, Canada, has been named XPEL’s interim President and Chief Executive Officer. Mr. Ferreira started as an XPEL customer in 2000, and his reputation in the automotive industry is unequalled. Mr. Ferreiras operating savvy and vision will bring great value to XPEL. Mr. Ferreira has served as the President of XPEL’s Canadian subsidiary XPEL Canada Corp.
Steven J. McAuley, XPEL’s former Chief Executive Officer, resigned his position as a director on June 10, 2008. Mr. Ferreira was appointed to succeed Mr. McAuley as Chief Executive Officer.
XPEL’s Chairman, W. Rege Brunner, commented, Nuno is a welcome member to the parent of the XPEL group of companies, and his performance of deep market penetration and profitable revenue generation speaks for itself. He is an exceptional executive who we believe will restore the progress XPEL exhibited during Q3 of 2007.
XPEL Technologies Corp. is the worldwide leader in the electronic delivery of automotive aftermarket products, utilizing the Internet as an integral component for its design, manufacturing, distribution and customer relationship strategies. The Company’s DAP software utility offers Dealers the industry’s most efficient and productive tool set to better serve customers with best-in-class solutions in real-time. XPEL has clear advantages over the competition through its expansive proprietary library of installation-friendly paint and headlight protection and window tint products, coupled with a unique web-based remote manufacturing and distribution software, superior installation training curriculum and world-class facilities, with established and growing sales channels.
Certain statements contained herein (He is an exceptional executive who we believe will restore the progress XPEL exhibited during Q3 of 2007 and Mr. Ferreiras operating savvy and vision will bring great value to XPEL ) are considered “forward-looking statements.” These statements are based upon the belief of the Company’s management, as well as assumptions made beyond information currently available to the Company’s management. Because “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, price competition, the inability to obtain additional capital, loss of key personnel, unavailability of leased facilities, technological changes, service interruptions, equipment failures, customer attrition, general economic conditions, relationships with vendors, government supervision and regulation, changes in industry practices, the inability to settle legal disputes, and other factors.
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Chief Executive Officer
John Nesbett/Jennifer Belodeau
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