The company behind the new £1.4billion cable manufacturing project at Hunterston have appointed a chief financial officer.
XLCC say their new man Shaun Mercer brings more than two decades of experience in finance leadership, as both an investor and operator, to the team.
His proven track record of driving financial growth in dynamic environments, combined with his extensive exposure across manufacturing and technology-oriented businesses, positions him perfectly to play a pivotal role in XLCC's next phase, the company said.
XLCC say their Hunterston plans are set to attract 900 jobs to the area.
North Ayrshire MSP Kenneth Gibson has revealed that the project is slated for a 2025 or 2026 start.
Most recently, Shaun spent several years as chief financial officer of Plastic Energy, an innovative global leader, completing multiple financing rounds.
Before that, Shaun was a managing director at global investment firm, The Carlyle Group, where he was involved in a number of their most significant investments, including as a board director of several multi-billion global, private and listed businesses.
Prior to joining Carlyle, Shaun was at Morgan Stanley, working in corporate finance and M&A.
Shaun's experience and capabilities will be instrumental as XLCC continues their fundraising path and moves to construction of their first factory in Hunterston and a fleet of cable laying vessels.
Shaun said: "I am incredibly excited to be joining XLCC given its role as a critical enabler of the energy transition and am looking forward to the opportunity to leverage my financial experience to build a business with truly world-changing potential."
Ian Douglas, CEO of XLCC, added: "Shaun brings to XLCC not only his strong financial leadership but also a wealth of investment experience that’s invaluable to us at this juncture in our growth plan.
"Shaun will play a key role in interfacing with current and future investors and in stewarding the organisation through the forthcoming construction phase.”
UK subsea cable manufacturer XLCC has signed a lease on a unit at Arkwright Way in Irvine to operate as a dedicated training facility for its apprentices.
The fit-out of the Training Centre will begin in the next couple of weeks and it will be ready for use in June 2024.
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