TORONTO, July 22, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) announced today that it has appointed Dr. John McGarva to its Board of Directors (the "Board") as an independent director, and to the Audit Committee of the Board, effective immediately. The Company also announces that Yadin Rozov has determined to step down from the Board as of today's date.

Dr. McGarva is a seasoned leader in product development and manufacturing, with experience spanning healthcare, industrial, and consumer electronics industries. His extensive international experience includes leadership roles across Europe, Southeast Asia, and China. Dr. McGarva recently retired as Head of Engineering at Dyson, where he led the design engineering of the company's entire haircare product line, guiding teams in Singapore, the Philippines, and the UK.

Under his leadership, Dyson's haircare business evolved from a single product to a significant business unit. A key element of Dyson haircare products is the integration of permanent magnets and this expertise positions Dr. McGarva to offer customer insights and strategic direction to Neo.

Prior to his tenure at Dyson, he held several high-profile leadership roles in technology and innovation companies, specializing in design, engineering, and manufacturing. Dr. McGarva's knowledge and practical experience of product development and manufacturing will be an exceptional asset to the Board.

"On behalf of the Board of Directors, I would like to thank Yadin for his contributions to the Board and the Audit and Corporate Governance & Nominating Committees over the last number of years.  He has provided valuable insight and leadership, which is appreciated by both the Board and management.  We wish Yadin success in his future endeavours. I am happy to welcome Dr. McGarva to the Board. John brings significant experience leading global engineering and technology initiatives and we look forward to his contributions to the work of the Board," said Claire Kennedy, Chair of the Neo Board.

Cautionary Statements Regarding Forward Looking Statements

This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.  In making the forward-looking information in this news release, the Company has applied certain factors and assumptions that are based on its current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.