Cork Firm Looking to Capitalise on New EU Lighting Rules
Nualight appoints Andrew Cronin CEO as company accelerates growth strategy
7 April 2021 – Cork firm Nualight, a leading Irish LED lighting technology company, has appointed Andrew Cronin as its new CEO as the company looks to accelerate growth following the introduction of new EU-wide rules to promote more efficient commercial lighting.
The EU’s new Ecodesign Directive and regulations, which came into play on March 1st, have banned the sale of the least efficient refrigerated appliances in commercial settings.
The company this week announced that Andrew Cronin is to be its new Chief Executive Officer, with Peter Mazalon taking up the role of Executive Chairman of the Board. Nualight, which specialises in high-performance lighting solutions for the world’s leading grocery retailers, refrigeration display case manufacturers and industrial sectors, is targeting the latest regulations as a platform for further business growth in 2021.
Andrew Cronin takes on the role of Chief Executive Officer of Nualight after 13 years with the company, having most recently served as Chief Operating Officer. Cronin has been instrumental in the technical development and launch of Nualight’s world-class LED Refrigeration Lighting product portfolio and overall operational efficiency of the business. His expertise in understanding the needs of the customer in this highly demanding market segment has led to significant growth in Nualight’s customer base in leading grocery chains and OEMs across four continents.
Speaking about the new appointment Peter Mazalon, Executive Chairman of Nualight, said: “Andrew is a proven technology leader with a track record of innovation, talent development and deep knowledge of Nualight and our customers. I am personally very pleased that we have been able to promote someone of his calibre. I look forward to working with him and the Executive Team over the coming years to continue the exceptional growth plan of our business.”
Commenting on his appointment, Andrew Cronin said: “I am very proud of the progress and results that we have achieved over the last six years under the stewardship of Peter. We have just closed our financial year, and the team is delighted to have delivered a third consecutive year of profitability for our shareholders. Even when faced with a challenging trading period, we will have beaten our sales targets and EBITDA forecast. Today we have a strong business plan in place to enable a doubling of both our revenue and EBITDA in the next few years. I am honoured to lead Nualight at this important time for the company and we will continue to have a hyper focus on our sales growth and operation execution, while continuing to develop our product leadership and innovation for our customers.”
New Executive Chairman Peter Mazalon will be replacing Per Langholz who will continue to serve on the Board. Peter joined the company in 2015 as CEO after several years in Senior and Board level roles in the lighting industry worldwide and was integral in turning around the business through the development and implementation of new strategies anchored around Nualight’s world-class LED refrigeration lighting capability. Peter’s leadership helped transform the company’s fortunes which is now delivering operating profit and is poised for significant sales and profit growth in the next two years.
Nualight is a pioneer in the category of LED lighting applications for refrigeration display cabinets and is the only LED lighting company in the world that specialises exclusively on LED lighting for food retail display cabinets. The company is aiming to become a global leader in this market segment.
Led by experts in LED technology and food retail merchandising, Nualight is a powerful partner for global retailers who wish to increase the profitability of their food displays while delivering on their sustainability agendas. The company partners with the world’s leading retailers and Original Equipment Manufacturers (OEMs) to create more profitable and sustainable retail displays.
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