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Kenon Holdings Ltd. — Board/Management Information 2016
Jan 6, 2016
6878_rns_2016-01-06_0a6ffcb1-b9a3-420e-bcae-0c682ac9041f.pdf
Board/Management Information
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF A FOREIGN ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
January 6, 2016
Commission File Number 001-36761
Kenon Holdings Ltd.
1 Temasek Avenue #36-01 Millenia Tower Singapore 039192 (Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ⌧ Form 40-F �
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes � No ⌧
If ‘‘Yes’’ is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Exhibits
99.1 Press Release, dated January 6, 2016: Qoros Automotive Co., Ltd. - Qoros Announces Management Changes and New Initiatives
Cautionary Statement Concerning Forward-Looking Statements
The press release of Qoros Automotive Co., Ltd. (“Qoros”) includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to: Qoros’ management, new divisional structure, vision, and product range, opportunities that Qoros will target and positioning of its business, changes in the management team, trends in the auto industry, Qoros’ products and its sales, including its run rate sales and its plan to introduce new models and other forward looking statements. These statements are based on current expectations or beliefs, and are subject to a number of risks and uncertainties, which could cause future events to differ materially from those indicated in such forward-looking statements. Such risks include risks relating to Qoros’ business, including those risks set forth under “Risk Factors—Risks Related to Our Interest in Qoros” in the Annual Report on Form 20-F for the year ended December 31, 2014 of Kenon Holdings Ltd. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
KENON HOLDINGS LTD.
Date: January 6, 2016
By: /s/ Yoav Doppelt Name: Yoav Doppelt Title: Chief Executive Officer
Exhibit 99.1
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Qoros Announces Management Changes and New Initiatives
Shanghai – January 06, 2016. Today Qoros Automotive Co., Ltd. (“Qoros”) announced that Mr. Phil Murtaugh, the current CEO of Qoros, will leave the company for personal reasons by the end of January.
In the interim, Qoros’ Chairman Anning Chen will take on the role of Acting CEO, supported by Dan Cohen, Vice Chairman, and a reinvigorated operational management team. A new CEO for the broader business will be announced in due course. The Board thanks Mr. Murtaugh for his efforts at a critical time in the development of the business. During his term of office, Qoros made progress in a number of areas including the release to critical acclaim of its new Qoros 5 SUV, an increase in sales by 170% year over year, and a reduction in costs.
At the same time, the Board of Qoros announces expansion initiatives designed to equip the business to target more effectively the opportunities presented by the profound structural changes impacting the auto industry. The opportunities Qoros will target are those being created by the secular shift towards ultra-low and zero emission vehicles, low environmental impact technologies, the growth of alternative forms of car usage and ownership and the application of self-drive technologies in the field of personal transportation.
As a first step, the company is creating two new divisions to specifically address this new business opportunity. The divisions, which will operate alongside an enhanced and more dynamic core business, are: New Energy Vehicles (NEV), which will focus on development of efficient, cost effective electric cars with genuine popular appeal; and Mobility, whose area of focus will be the new mobility platforms and self-drive technologies.
These developments, together with a vision to invest in a new product pipeline and new engineering capabilities to meet growing demand in key segments, will help secure the future of Qoros at a time of tremendous flux in the auto industry. Further details will be provided in the coming weeks.
Anning Chen, Chairman and Acting CEO of Qoros said: “The auto industry is on the brink of a massive shake-up and Qoros, with its start-up culture, its strong management team, strong sense of independence, and willingness to collaborate with other innovative partners, is in our view uniquely well placed to take a leadership position in the new world of mobility, electrification, and self-drive technologies. With sales as of December 2015 now at a run rate of over 2,000 units a month and the Qoros 5 SUV about to come on stream, we believe the time has come to take decisive steps that will work towards securing the future of this business.”
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Inquiries:
Qoros Automotive Co., Ltd. Wan Xu Public Relations Department Email: [email protected]
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