Ioxus Names Robert Nardelli Chairman Of The Board

ONEONTA, N.Y., July 24, 2017 /PRNewswire/ -- Ioxus® today named Robert Nardelli as the Company's Chairman of its Board of Directors. Nardelli is an internationally recognized business leader with extensive C-level experience at Chrysler, Home Depot, and General Electric, and has been on the board of directors of companies such as Coca Cola and Pep Boys. He is currently serving on the BWXT Board and is the CEO and Founder of XLR-8 LLC, Investment & Advisory Co.

At General Electric Nardelli held a variety of assignments, including President and Chief Executive Officer of GE Power Systems and GE Transportation Systems, CEO of Canadian Appliance Manufacturing Company and various executive positions. Under Nardelli's leadership, countless product innovations were introduced and he was recognized for his Six-Sigma cost cutting efforts and top-line growth initiatives. After his distinguished career at GE, Nardelli became Chairman, President and Chief Executive Officer of Home Depot, where he was recognized for successfully implementing lean principles and consistently growing the top line. Following his tenure at Home Depot, Mr. Nardelli was tapped to be the Chairman and Chief Executive Officer at Chrysler, during a tumultuous time for the auto industry and particularly Chrysler.

Mr. Nardelli has had multiple board appointments and successful investments in the time since his reign at Chrysler. Today, he can add Chairman of the Board of Directors of Ioxus to his stellar credentials.

"We are very pleased to have Bob join our board, with his knowledge and outstanding C-level relationships at blue chip customers", said Mark McGough, Ioxus' President and CEO. "Bob brings more than four decades of high level executive experience in a career filled with successes at some of the largest companies in the world, and this makes him an exceptional fit for our vision going forward. Bob is known internationally as an expert in key strategic industries which we believe will drive enormous growth for Ioxus."

According to Nardelli, "Ioxus has been on my radar for some time. They have the strongest technology in the ultracapacitor space, with smart electronics coupled with higher power densities, higher temperature capability, and more innovative system designs. The transportation industry has taken seriously the challenge for improved efficiency, lower environmental impact and growing customer demands for increased electrical/electronic features. Ioxus' proprietary technology, such as the uSTART® and X-Series® is meeting these challenges, particularly in the commercial vehicle and grid connected sectors. The potential for rapid growth, backed by Elliott Management, one of the largest private equity firms in the world, and an extraordinarily talented and experienced management team, made it an easy decision to join with this board."

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