Expion360 appoints Joseph Hammer as new CEO and board chairman

REDMOND, Ore. - Expion360 Inc. (NASDAQ:XPON), a lithium-ion battery power storage company with a market capitalization of $4.73 million, announced Tuesday the appointment of Joseph Hammer as Chief Executive Officer and Chairman of the Board of Directors, effective October 16, 2025.

Hammer succeeds Brian Schaffner as CEO and Paul Shoun as President and Chairman. Schaffner will remain on the company’s board of directors.

The new CEO brings over 20 years of experience as a financial executive. Most recently, he served as Chief Investing Officer at LHX Corp., a family office service company, since February 2025. Prior to that, he was Chief Investing Officer at LH Financial from 2010.

Hammer has also served as Chairman of the Board for Nasdaq-listed Trailblazer Merger Corporation I since 2023 and as a board member of Gratitude Railroad LLC since 2016.

"Joseph brings an incredible track record of success, with the experience and industry relationships necessary to lead Expion360 to its next stage," said Schaffner.

Hammer stated that the company’s "current balance sheet positioning, from a combination of cash, receivables, and strong inventory levels, positions us to execute on our key growth initiatives." According to InvestingPro data, the company maintains a current ratio of 1.27 and has achieved impressive revenue growth of 68.33% over the last twelve months, though analysts note the company is quickly burning through cash. For deeper insights into Expion360’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.

Expion360 specializes in lithium iron phosphate batteries for recreational vehicles, marine applications, light electric vehicles, and residential energy storage. According to the company’s press release statement, its products are available through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country.

The leadership change comes as the company aims to expand distribution and advance its lithium-ion battery technology. While InvestingPro analysis suggests the stock is currently trading below its Fair Value, investors should note the company’s high price volatility and negative free cash flow yield. InvestingPro subscribers can access 11 additional key insights and detailed metrics to better evaluate this potential turnaround opportunity.

In other recent news, Expion360 Inc. reported a remarkable 134% increase in revenue year-over-year during its Q2 2025 earnings call. Despite posting a net loss of $1.4 million, the company improved its financial performance by 38% compared to the previous year. Additionally, Expion360 raised approximately $5.65 million through the exercise of its Series A and January Warrants after reducing their exercise prices to $1.31 per share. This move helped the company address Nasdaq compliance issues and resulted in the issuance of 4,878,942 shares of common stock.

In a leadership update, Shawna Bowin has been appointed as the new Chief Financial Officer of Expion360, replacing the interim CFO, CEO Brian Schaffner. Bowin joined the company in 2022 and has been serving as Controller since February 2025. The recent developments reflect Expion360’s ongoing efforts to strengthen its financial position and leadership team.

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