Amsterdam, 26 January 2023. In close consultation with Cabka CEO Tim Litjens and the Supervisory Board, Necip Küpcü, current Chief Financial Officer (CFO) of Cabka, has decided to step down as CFO and member of the Management Board of Cabka N.V. (“Cabka” or the “Company”). The Supervisory Board of Cabka appoints Frank Roerink (1969) as interim CFO, while Necip Küpcü will continue in a senior finance role within the company.
Frank Roerink will start as interim CFO as of 1 February 2023. As a seasoned CFO, Frank Roerink strengthens Cabka’s financial organization, bringing elaborate experience of operating within the listed environment. Necip Küpcü will report to Frank Roerink, maintaining his position on the board of the Cabka Group GmbH.
Manuel Beja, Chairman of the Supervisory Board commented: “The Supervisory Board is pleased to nominate Frank Roerink as interim CFO. He offers broad financial, IT, and treasury experience in listed companies with a focus on circularity and innovation. This fits seamlessly with the profile and ambitions of Cabka. The Supervisory Board is also pleased that Necip Küpcü will continue his longterm engagement with the company. His financial expertise and commitment has been instrumental in realizing Cabka’s listing and we respect his decision to take a lower profile.”
Short resume of Frank Roerink
Frank Roerink is of Dutch nationality and joins Cabka from Dwarfs.io a young rapidly growing e-commerce platform, for which he served as CFO. From 2007 to 2019 he was CFO of Avantium, a role in which he led the growth strategy, funding, and 2017 initial public offering (IPO). After the IPO, Frank was responsible for the company’s post-listing consolidation and investor engagement. Before joining Avantium he worked 12 years for Unilever in Europe, UK, and USA.
Frank holds a Master’s degree in Econometrics from the University of Amsterdam and a post graduate Registered Controller Degree from the University of Maastricht.
For more information, please contact:
David Brilleslijper, Investor & Press contact
IR@cabka.com , or D.Brilleslijper@cabka.com,
+316 109 42514
www.investors.cabka.com
About Cabka
Cabka is a circular manufacturer enabling the transformation of hard to recycle plastic post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), like pallets- and large container solutions enhancing logistics chain sustainability. Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products.
Cabka employs some 700 FTE in Europe and the US recycling 150 kT of plastics into some 10 million pallets and 200,000 large containers realizing EUR 170m in revenues in 2021 and
EUR 152m in the first nine months of 2022.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
Disclaimer
The content of this press release may include statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth, or strategies.
Readers are cautioned that any forward-looking statements are not guarantees of future performance. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. The Company undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.
This document contains information that qualifies as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.
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