Lion E-Mobility AG (LION; ISIN: CH0560888270), a manufacturer of battery packs for electric mobility and energy storage solutions, has announced that Alessio Basteri will step down from its Board of Directors. The Zug, Switzerland-based company said it will immediately begin the process of identifying a new Board member resident in Switzerland.
Basteri, who served as Chairman for many years, expressed gratitude to his colleagues and fellow Board members for their trust and collaboration. In a statement, he said, “It has been an amazing journey. I will continue to do what I can to support LION’s Italian BESS opportunity.” BESS refers to battery energy storage systems, a segment LION has been pursuing in Italy.
Ian Mukherjee, Chairman of the Board of Directors, praised Basteri’s long service. “Alessio has served LION as Chairman for many years, and his work and commitment have been greatly valued,” Mukherjee said. “On behalf of the Board, I would like to express my sincere thanks for his contribution to the Company and for the time and dedication he has given to the role. We also appreciate his willingness to continue supporting LION’s Italian BESS opportunity, and we wish him every success in the future.”
The planned transition comes as LION continues to position itself in the growing market for lithium-ion battery packs. Founded in 2011, the company offers customized plug-and-play solutions for electric vehicles as well as for stationary and industrial applications. It operates highly automated module assembly lines at its own production facility in Germany, and its battery packs are marketed for safety, quality, and reliability. LION is listed on the stock exchanges in Munich, Frankfurt, and Hamburg.
The board change matters for investors and stakeholders because it affects the leadership of a company focused on energy storage and electric mobility, sectors that are attracting increasing attention as the transition to cleaner energy accelerates. The immediate search for a Switzerland-resident board member suggests LION is moving to ensure continuity in its governance and maintain a strong local presence in its home market. Basteri’s continued support for the Italian BESS opportunity may also help smooth the transition as the company pursues growth in energy storage.
For more information about LION E-Mobility AG, visit www.lionemobility.com. The original press release is available on www.newmediawire.com.
