| | OCTOBER 20248IN FOCUSHW VASSEN TO LEAD POWERCO SE AS NEW CHIEF TECHNOLOGY OFFICER IN AUGUST 2024CUMMINS ASIA PACIFIC NAMES ANNIE CHU AS NEW EXECUTIVE MANAGING DIRECTORPowerCo SE has announced that HW Vassen will become the new Chief Technology Officer (CTO) and Member of the Board of Management starting August 1, 2024. The Supervisory Board ratified this decision today. Vassen, currently the Head of Series Development at PowerCo SE, has been pivotal in the development of the company's unified cell, which is set for mass production in 2025.As CTO, Vassen will be responsible for overseeing technology and product development, as well as testing and analytics. He will succeed Soonho Ahn, who is stepping down at the end of July but will continue to advise the Volkswagen Group.Frank Blome, CEO of PowerCo SE, expressed gratitude towards Ahn, stating, "Soonho Ahn deserves our sincere thanks for all he has done at PowerCo. He built up the technology department and laid the foundation for future market success with the unified cell. He has clearly helped us on our way to becoming a sustainable, competitive battery company".Vassen has been with PowerCo SE since mid-2023 and has extensive experience in battery technology, having spent six years in China working on battery cells and systems for Volkswagen Group China. He studied electrical engineering at RWTH Aachen University and has been with the Volkswagen Group since 1999.Soonho Ahn, born in Seoul in 1960, has been instrumental in building up the technology department at PowerCo SE since 2022. Before joining PowerCo SE, Ahn was the Global Head of Battery Development at Apple. Cummins Asia Pacific has appointed Annie Chu as its new Executive Managing Director, effective July 1. Chu will be based in Singapore and will lead Cummins' operations across Australia, New Zealand, Papua New Guinea, Southeast Asia, Japan, Korea, and the Pacific Islands.Chu brings nearly 14 years of experience within Cummins to her new role, most recently serving as Executive Managing Director for Cummins Africa and Middle East Distribution Business. Her tenure has been marked by strategic leadership, a customer-focused approach, and a collaborative spirit. Under her leadership, the Africa and Middle East division achieved record financial performance and launched transformative initiatives aimed at improving customer support and employee engagement.Chu takes over from Peter Jensen-Muir, who is retiring after a distinguished 36-year career with Cummins, including a decade overseeing the diverse Asia Pacific region. Jensen-Muir's tenure is noted for significant growth and operational excellence."Annie's proven track record and commitment to excellence position her well to drive our continued success in the Asia Pacific region", said Jennifer Rumsey, CEO of Cummins. "Her leadership will be instrumental in navigating the dynamic market landscape".Chu's appointment underscores Cummins' focus on strategic growth and maintaining robust operational standards across its global markets.
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