Xaar Share News (XAR)

Inkjet printing technology group Xaar has appointed Doug Edwards as its new chief executive (CEO) with immediate effect.Edwards, who joins the company from Kodak where he had been a member of the executive board since 2006, will replace outgoing CEO Ian Dinwoodie, who announced in March 2014 his intention to step down after 11 years in the role."Following a thorough international search I am delighted to welcome Doug to Xaar," said group president Phil Lawler."His appointment will strengthen the board, providing the experience necessary to lead the company through its next stage of development."Edwards, who covered a variety of technical roles with Ilford Limited, ICI, Zeneca and International Paper before moving to Kodak, said he was looking forward to his new task."It is a privilege to be asked to lead Xaar through this next phase of the Company's development," he said."Excellent progress has been made by the Company over the last decade but the future opportunities ahead of the Company in the world of digital printing are substantial, and I am pleased to return to the UK to take up this challenge."Xaar shares rose 3.73% to 401.70p at 09:23 on Monday.