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Investing.com -- Expion360 Inc. (NASDAQ:XPON) stock rose 3.7% on Tuesday after the lithium-ion battery power storage company announced the appointment of Joseph Hammer as its new Chief Executive Officer and Chairman of the Board of Directors, effective October 16, 2025.
Hammer, who brings over 20 years of experience as a financial executive and board director, will succeed Brian Schaffner as CEO and Paul Shoun as President and Chairman. Schaffner will continue to serve as a member of the Board of Directors.
The incoming CEO most recently served as Chief Investing Officer at LHX Corp., a family office service company, since February 2025. Prior to that, he was Chief Investing Officer of LH Financial since 2010, where he evaluated investment opportunities across various asset classes.
"Joseph brings an incredible track record of success, with the experience and industry relationships necessary to lead Expion360 to its next stage as an industry leader in premium lithium iron phosphate batteries and accessories," said Schaffner.
Hammer expressed confidence in the company’s positioning, stating, "We believe that now is the right time to make a change in leadership as we shepherd the Company into the next phase of expanding distribution and advancing our lithium-ion battery technology."
The new CEO highlighted Expion360’s current balance sheet strength from "a combination of cash, receivables, and strong inventory levels" as key factors that position the company to execute on growth initiatives and develop advanced energy solutions.
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