31 May 2019
Bellevue, WA, June 1, 2019 - Xenon Arc, a leading provider of tech-enabled business-to-business commercial solutions, today announced the transition of co-founder and chief executive officer Chad Steigers into a strategic advisory role, and the promotion of Paul Warburg to chief executive officer.
Mr. Steigers, along with his co-founders, created Xenon Arc in 2010 with the ambition of launching a better digitally-based model that would enable large manufacturers to more effectively reach their tail of small-to-mid-sized end-use customers. Mr. Steigers’ leadership helped build the organization, guided development of its unique technology platform, and forged a client base of world renown chemical and food ingredient manufacturers. Mr. Steigers’ strategic advisory role will provide Xenon Arc with the continued benefits of his 30-plus years of materials industry experience, knowledge and relationships, which will allow Xenon Arc to further expand and evolve its business model. This role will also allow Mr. Steigers to broaden his activities beyond Xenon Arc into other complementary areas of interest, such as digitization and disruptive innovation, and channel and manufacturing optimization for global materials producers. Along with his other co-founders, Mr. Steigers remains a substantial Xenon Arc shareholder.
“We are incredibly grateful to Chad for his invaluable contributions and look forward to continuing to benefit from his wealth of knowledge in his new advisory role,” commented Sean Honey, board director representing Weston Presidio, Xenon Arc’s majority shareholder. “Through his vision, passion, and focus Chad successfully delivered an innovative business model and supporting team from which our clients are experiencing aligned growth, improved profitability and deep applications insights, while simultaneously delivering a superior experience to the end-use customer base.”
“I have been extremely fortunate to have the opportunity to create the innovative model behind Xenon Arc, and to successfully guide the building of its value proposition to its clients and customers, its dynamic growth and financial success, and most importantly, its differentiated corporate culture,” said Mr. Steigers. “I am thankful to Weston Presidio for investing in and fully supporting Xenon Arc since its inception and I look forward to future collaboration with Paul and our best-in-class team.”
Mr. Warburg is expanding his role to president and chief executive officer. Mr. Warburg originally joined Xenon Arc as its chief financial officer before his promotion to president and board member in 2016. During his tenure with the company, he has helped further refine the business model and grow Xenon Arc’s external presence with clients and suppliers, in addition to driving meaningful operating improvements.
Mr. Honey continued, “We are excited to enter a new chapter of growth and performance under Paul’s leadership. His collaborative, partnership-oriented approach, supported by the strong management team, will steepen Xenon Arc’s impressive trajectory.”