Li-Cycle to Realign Organizational Structure to Support Global Growth Plans
November 10, 2021
TORONTO, Ontario (November 10, 2021) – Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced the appointment of Abdelsalam Aldwikat to the role of VP, Information Technology (IT), effective immediately. In his new role, Mr. Aldwikat will oversee Li-Cycle’s global IT and enablement as the Company increases its investment in strategically leveraging IT across its business.
Mr. Aldwikat brings nearly 20 years of experience specializing in the strategic alignment of technology to corporate strategy, operations, business process improvement, and process automation. He has a proven track record of leading strategic initiatives, implementation, and delivery of technology across a variety of industries. Mr. Aldwikat reports to Li-Cycle’s Chief Financial Officer, Bruce MacInnis.
“We are pleased to welcome Abdel to the Li-Cycle team as we aggressively scale our commercial lithium-ion battery recycling technologies,” said Mr. MacInnis. “We will increase our focus and investment into our IT department as a strategic enabler, as we continue to grow and deploy our technologies into new global markets. We look forward to leveraging Abdel’s experience and insights as he spearheads our IT initiatives.”
“Li-Cycle’s patented and proven commercial lithium-ion recycling technologies are critical to supporting the infrastructure required to support global electrification, sustainably,” said Mr. Aldwikat. “I am excited to play a significant role in growing the Company’s IT team and capabilities as it enters an exciting new chapter in its rapid growth trajectory.”
Prior to joining Li-Cycle, Mr. Aldwikat served as Chief Technology Officer of REVIVE Superfoods where he built, implemented, and transformed the company’s IT & technology strategy. Previously, he worked for Redline Communications Group, where he built the Information Systems (IS) and IT strategy, focused on improving the customers experience and productivity while reducing cost. Earlier on in his career, Mr. Aldwikat held a variety of roles related to IS and IT across several different industries.
Mr. Aldwikat acquired his Master of Science in Information & Computer Security from the New York Institute of Technology and BA in Information Technology.
Additional Leadership Changes
Li-Cycle also announced that it has adopted a new regional management structure to support the acceleration of the Company’s global growth plans. Under the new structure, regional presidents will oversee recycling operations, commercial activities, and business development activities in the Americas region, the Asia-Pacific (APAC) region, and the Europe, Middle East and Africa (EMEA) region.
Li-Cycle has promoted Dawei Li to the role of Regional President, APAC. Tim Johnston assumes the role of Interim Regional President, EMEA, and Kunal Phalpher will transition from the role of Chief Commercial Officer to Chief Strategy Officer of the Company.
Dawei Li – Regional President, APAC
Mr. Li will transition from his current role as Li-Cycle’s Vice President, Asia to the new role of Regional President, APAC, effective immediately. In his new position, he will oversee the execution of Li-Cycle’s growth strategy in the APAC region and will be responsible for Li-Cycle’s future operational and commercial teams in that region.
Tim Johnston – Interim Regional President, EMEA
Tim Johnston, Li-Cycle’s co-founder and Executive Chairman, will assume the additional role of Interim Regional President, EMEA, as part of the Company’s new regional management structure, effective immediately. In this new role, he will oversee the execution of Li-Cycle’s growth strategy in the EMEA region and will be responsible for Li-Cycle’s future operational and commercial teams in that region.
Kunal Phalpher – Chief Strategy Officer
Mr. Phalpher will transition from his role as Li-Cycle’s Chief Commercial Officer to the new role of Chief Strategy Officer, effective immediately. In this new role, Mr. Phalpher will oversee Li-Cycle’s global customer relationships and its commercial development strategies.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
Certain statements contained in this communication may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1993, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as “will”, “expect”, “plan”, “potential”, “future”, “continuing” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements may include, for example, statements about Li-Cycle’s planned expansion into the EMEA and APAC regions and the anticipated benefits thereof; the anticipated benefits of the Li-Cycle’s new regional management structure and leadership changes; the future financial performance of Li-Cycle; and the fulfillment of Li-Cycle’s obligations in relation to actual or proposed contractual negotiations with third parties in the EMEA and APAC regions. These statements are based on various assumptions, whether or not identified in this communication, which Li-Cycle believe are reasonable in the circumstances. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. These and other risks and uncertainties related to Li-Cycle’s business are described in greater detail in the section entitled “Risk Factors” in its final prospectus dated August 10, 2021 filed with the Ontario Securities Commission in Canada and the Form 20-F filed with the U.S. Securities and Exchange Commission, and in other filings made by Li-Cycle with securities regulatory authorities. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.In addition, forward-looking statements contained in this communication reflect Li-Cycle’s expectations, plans or forecasts of future events and views as of the date of this communication. Li-Cycle anticipates that subsequent events and developments could cause Li-Cycle’s assessments, expectations, plans and forecasts to change. While Li-Cycle may elect to update these forward-looking statements at some point in the future, Li-Cycle has no intention and undertakes no obligation to do so, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle’s assessments as of any date subsequent to the date of this communication. Li-Cycle’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.