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GEELONG, Australia - Carbon Revolution plc (NASDAQ:CREV), a global leader in the production of lightweight carbon fiber wheels with a market capitalization of $5.48 million, announced the appointment of Donnie Hampton, Jr. as its new Acting Chief Executive Officer and a member of the Board of Directors. Mr. Hampton, an experienced executive with over 30 years in the Tier 1 automotive supply sector, will take the helm as the company advances the full-scale industrialization of its Geelong facility. According to InvestingPro data, the company faces significant challenges, with its stock down over 85% in the past year, though analysts anticipate sales growth in the current year.
Bob Lutz, Chairman of the Carbon Revolution Board of Directors, praised Hampton’s extensive background, which includes global manufacturing leadership at Maxion Wheels and executive roles at Pace Industries, Faurecia, Rea Magnet Wire, and Honeywell International/Allied Signal. Lutz expressed confidence in Hampton’s ability to guide Carbon Revolution into its next growth phase. InvestingPro analysis reveals the company is currently trading significantly below its Fair Value, with analysts setting an ambitious price target of $37.46.
Hampton, who will relocate to Australia, expressed his eagerness to leverage his experience to propel Carbon Revolution’s innovative products and growth. His appointment follows the tenure of former CEO Jake Dingle, under whose leadership the company transitioned from an R&D startup to a premier supplier of carbon fiber wheels.
Board member Chris Leary acknowledged Dingle’s contributions and emphasized the company’s readiness to accelerate its market presence. Carbon Revolution, known for its lightweight wheel technology, serves prestigious automotive brands and aims to expand its global footprint.
This leadership change occurs as Carbon Revolution continues to pursue operational excellence and seeks to expand its customer base. The company’s focus remains on supplying advanced technology to automotive manufacturers worldwide.
This news is based on a press release statement from Carbon Revolution plc.
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