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EZGO ANNOUNCES FINANCIAL RESULTS FOR FISCAL YEAR 2024

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CHANGZHOU, China, Jan. 17, 2025 /PRNewswire/ — EZGO Technologies Ltd. (Nasdaq: EZGO) (“EZGO” or “we”, “our”, or the “Company”), a leading short-distance transportation solutions provider in China, today announced its audited financial results for the fiscal year ended September 30, 2024 (the “Fiscal Year 2024”).

Fiscal Year 2024 Financial Highlights (all results compared to the prior year period unless otherwise noted)

Revenues were $21.1 million, an increase of 32.7%, which was primarily due to the increase of sales of battery packs resulting from the increased acceptance of our lithium battery packs in the market.Gross profit was $1.5 million, an increase of 32.5%. Gross margin was 7.1%, which remained stable with a slight decrease from 7.2% for the fiscal year 2023.Net loss was $8.1 million, an increase from net loss of $7.3 million for the fiscal year 2023, representing an increase of 11.4%, which was primarily raised from the increase in impairment of long-term equity investment.Basic and diluted loss per share attributable to shareholders was $2.80, compared to $5.91 for the fiscal year 2023.As of September 30, 2024, the Company had cash and cash equivalents of $3.5 million, compared to $17.3 million as of September 30, 2023.

Management Commentary

Mr. Jianhui Ye, Chief Executive Officer of EZGO, stated, “In the past fiscal year, the Company’s operating revenue increased by over 30%, which was attributed to the timely adjustment of business strategies by the Company’s management, their proactive response to new industry and market challenges, and the timely shift of business focusing on the lithium-ion battery (LIB) for low-speed e-bicycles. During the second quarter of this fiscal year, the e-bicycle business experienced a significant decline due to the “Nanjing EV Charging Station Massive Fire” accident, leading most dealers and consumers to adopt a wait-and-see attitude towards the existing stock of e-bicycles in the short term.

In response to changes in the market and regulatory environment, the Company has shifted its business focus towards LIB, intensifying product development efforts and cooperation with LIB manufacturing partners. The Company has also introduced multiple safe and efficient LIB products to the market through various channels, rapidly capturing the LIB market for e-bicycles and e-tricycles. Additionally, the e-bicycle business has transitioned from channel marketing to direct client marketing, with a focus on developing the e-bicycle sharing and rental market.

The aforementioned adjustment of business focus and new business layout have significantly tied up the Company’s working capital, resulting in a substantial year-on-year decline in working capital at the end of this fiscal year. However, as the expansion of new LIB product channels gradually takes shape and the sales of electric vehicle begins to show results, the occupation of operating capital in these two business segments will be effectively alleviated.

During the past fiscal year, the sales of the Company’s electronic control system products declined slightly compared to the previous period, yet the gross profit margin remained high. With the business strategy of increasing research and development expense and continuous market development investment, this business line is expected to contribute persistently to improving the Company’s overall profitability over the next three years. The intelligent robotics business is in the market introduction phase and has not yet formed sustained and stable order support. However, the Company will continue investing in research and development for this business line, aiming to build a new product matrix.”

Fiscal Year 2024 Financial Review

Net revenues

The following table identifies the disaggregation of our revenue from continuing operations and reportable segments for the fiscal years ended September 30, 2022, 2023 and 2024, respectively:

Years Ended September 30,

Segment

2022

2023

2024

Sales of batteries and
   battery packs

Battery cells and
packs segment

$

6,990,215

$

8,245,966

$

16,318,839

Sales of e-bicycles

E-bicycle sales
segment

9,405,103

4,276,147

2,899,541

Sales of electronic
   control system and
   intelligent robots

Electronic control
system and intelligent
robot sales segment

–

2,344,373

1,401,783

Others

993,899

1,054,173

514,262

Net Revenue

$

17,389,217

$

15,920,659

$

21,134,425

Net revenues from continuing operations for the fiscal year ended September 30, 2024 (the “Fiscal Year 2024”) was $21.1 million, an increase of 32.7% from $15.9 million for the fiscal year ended September 30, 2023 (the “Fiscal Year 2023”). The increase in revenue from Fiscal Year 2023 to Fiscal Year 2024 was mainly due to the increased sales of battery packs and partially offset by the decreased sales of e-bicycles and the decreased sales of electronic control system and intelligent robots.

The revenue from sales of battery packs was $16.3 million for Fiscal Year 2024, an increase of 97.9% from $8.2 million for Fiscal Year 2023, due to the remarkable increase in sales volume derived by several large orders from major customers responding to the heightened market demand for high-performance battery solutions. In addition, such an increase mainly resulted from the increased acceptance of our lithium battery packs in the market and the development of the lead-acid battery market in Sichuan. Overall, our sales volume of lithium battery packs increased by 256.5% for the year ended September 30, 2024, compared to fiscal 2023.

The revenue from sales of e-bicycles was $2.9 million for Fiscal Year 2024, a decrease of 32.2% from $4.3 million for Fiscal Year 2023 due to the decreased sales volume of the e-bicycles resulting from the fierce competition of the e-bicycle industry.  

The revenue from sales of electronic control systems and intelligent robots was $1.4 million for Fiscal Year 2024, a decrease of 40.2% from $2.3 million for Fiscal Year 2023, mainly due to the decrease of $1,510,225 in sales of intelligent robots and offset by the increase of $951,665 in sales of electronic control systems. The revenue from sales of electronic control systems increased significantly by 211.4 % for fiscal 2024 compared to fiscal 2023, primarily due to the increased emphasis on environmental protection and construction safety within the industrial machinery sector. The decrease in sales for intelligent robots is primarily attributed to the fact that our main clients were upgrading and renovating their park facilities, resulting in no demand for intelligent robots during fiscal 2024.

Cost of revenues

Cost of revenues was $19.6 million for Fiscal Year 2024, an increase of 32.8% from $14.8 million for Fiscal Year 2023, which was primarily due to the increase of manufacturing and purchase cost of battery packs for sales of batteries and battery packs, which is in line with the increase of revenues.

Gross profit

Gross profit was $1.5 million for Fiscal Year 2024, an increase of 32.5% from $1.1 million for Fiscal Year 2023.

Gross profit margin remained relatively stable, with a slight decrease from 7.2% in fiscal 2023 to 7.1% in fiscal 2024. The gross profit from electronic control system and intelligent robot sales segment increased from 25.8% for fiscal 2023 to 47.3% for fiscal 2024, predominantly attributable to the enhanced contribution of electronic control system sales business with a higher gross profit margin. The electronic control system developed and manufactured by Changzhou Higgs was embedded with highly complex software and the limited competition in the market results in a relatively high gross profit margin of 47.3% for electronic control system sales, which accounts for 6.6% of our total revenue in fiscal 2024 compared to 5.0% in fiscal 2023.

Selling and marketing expenses

Selling and marketing expenses remained relatively stable at $0.6 million for Fiscal Year 2024, a slight decrease of 9.5% compared to fiscal 2023, primarily due to the decrease in advertisement and business promotion expenses, service expenses and travel expenses. Advertisement and business promotion expenses s decreased by $71,610 or 92.6% to $5,751 in fiscal 2024, mainly due to the reduced advertising demands as our existing customer base and sales force were sufficient to support our business development and expansion. Travel expenses decreased by $13,607 or 15.3% to $75,504 in fiscal 2024; Service expenses decreased by $15,297, or 78.3%, from $19,529 in fiscal 2023 to $4,232 in fiscal 2024.

General and administrative expenses

General and administrative expenses remained relatively stable at $4.3 million for Fiscal Year 2024, a slight decrease of 8.3% from $4.7 million for Fiscal Year 2023. The decrease was primarily attributed to (1) the decrease of the share-based compensation expense of $880,851; (2) the decrease of depreciation and amortization expenses of $257,460, or 76.3%, mainly due to the disposal of Property, plant and equipment, including production lines and buildings of Tianjin Dilang and Tianjin Jiahao and E-bicycle charging piles; (3) the decrease of the professional service fees of $191,352, which was mainly due to the decrease of the investment consultancy fee. The decrease was partially offset by (1) the increase of credit losses expense on accounts receivable of $837,863, or 168.4%, mainly due to the difficulties in collecting accounts receivable from individual dealers of e-bicycles who was facing fierce competition from the industry-leading enterprises, and (2) the liquidated damages expense of $138,806 due to the early termination of a procurement contract.

Research and development expenses

Research and development expenses was $0.9 million for Fiscal Year 2024, an increase of 37.0% from $0.7 million for Fiscal Year 2023. The increase was primarily attributed to (1) the increased expenses in research and development activities for engineering vehicle wireless measurement and control system and construction worker safety positioning system of $84,735; (2) the increased depreciation and amortization expenses of $191,676 due to the patents and software acquired in May 2023, which were partially offset by the decreased expenses of $28,084 in research and development activities due to the disposal of Tianjin Dilang.

Income tax expense/benefit

EZGO incurred an income tax benefit of $786,369 for Fiscal Year 2024. This was a result from the increased deferred tax assets of $681,785, mainly due to the recurring net loss in fiscal 2024.

Net loss

Net loss was $8.1 million for Fiscal Year 2024, compared to $7.3 million for Fiscal Year 2023.

Financial Condition

As of September 30, 2024, the Company had cash and cash equivalents of $3.5 million, and a fixed deposit receipt of $1.5million with a maturity date of December 21, 2024 compared to $17.3 million as of September 30, 2023.

For additional information, please see EZGO’s Annual Report on Form 20-F for the fiscal year ended September 30, 2024, which was filed with the U.S. Securities and Exchange Commission on January 17, 2025.

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and two e-bicycle brands, “EZGO” and “Cenbird,” EZGO has established a business model centered on the design, manufacturing and sale of two-and three-wheeled electric vehicles, intelligent robots, complemented by electric vehicle accessories including batteries, charging piles and electronic control system. For additional information, please visit EZGO’s website at www.ezgotech.com.cn. Investors can visit the “Investor Relations” section of EZGO’s website at www.ezgotech.com.cn/Investor.

Exchange Rate

This announcement contains translations of certain Chinese Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the readers. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.0176 to US$1.00, the exchange rate in effect as of September 30, 2024, the middle price of RMB exchange rate announced by the People’s Bank of China. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the short-distance transportation solutions market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”), including the Company’s most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Investor Relations Contact

At the Company:
Shawn Wen
Phone: +86 13502829216
Email: ir@ez-go.com.cn 

 

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NexBank Partners with MaxMyInterest to Expand Customer Relationships Nationwide

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October 28, 2026

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Max members can apply for new NexBank high-yield money market accounts in as little as 2 minutes.

DALLAS and PORTSMOUTH, N.H., Oct. 28, 2026 /PRNewswire/ — NexBank, the banking subsidiary of NexBank Capital, Inc. and the largest privately held bank based in Texas, today announced its partnership with MaxMyInterest (Max), an intelligent cash management service for individual investors and financial advisors.

Through this partnership, consumers nationwide can now open the NexBank MaxMyInterest Money Market Account, a high-yield account available exclusively through Max. The account offers competitive rates and a streamlined application process.

Max helps depositors seamlessly distribute their cash balances across multiple bank accounts to earn more on their deposits by earning highly competitive yields while simultaneously benefiting from greater aggregate FDIC insurance coverage, one-click funds transfers, and consolidated tax reporting. Deposits at NexBank are insured by the FDIC up to $250,000 per depositor, for each account ownership category.

“We are proud to partner with NexBank to help expand its reach to all 50 states,” said Rachel Bourne, Head of Bank Partnerships at Max. “Together with NexBank, we can help clients earn competitive rates while keeping their deposits safely within the FDIC insurance limits in their own bank accounts.”

To find information about the NexBank MaxMyInterest Money Market Account, contact your financial advisor or visit MaxMyInterest.com.

About NexBank
NexBank is the largest privately held bank based in Texas with assets of $14 billion and a charter that dates to 1922. NexBank provides institutional banking, commercial banking, mortgage banking, and personal banking services to meet the needs of its clients, which include institutional clients, financial institutions, corporations, and consumers nationwide. NexBank is a subsidiary of NexBank Capital, Inc., a financial holding company. 

www.NexBank.com
Member FDIC | Equal Housing Lender

About Max
Max, a service of Six Trees Capital LLC, offers intelligent cash management solutions for individual investors and their financial advisors, enabling clients to earn competitive yields on their cash. Max’s patented technology helps customers reallocate funds among their checking and high-yield savings accounts to earn the highest yield while keeping their funds safe in their own FDIC-insured partner bank accounts. Banking services are provided by participating FDIC-insured banks, including NexBank. For more information, visit MaxMyInterest.com, MaxForAdvisors.com, or MaxForBanks.com.

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SOURCE NexBank; MaxMyInterest

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Risk Analytics Market worth $54.69 billion by 2031 – Report by MarketsandMarkets™

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October 28, 2026

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DELRAY BEACH, Fla., Oct. 28, 2026 /PRNewswire/ — According to MarketsandMarkets™, the Risk Analytics Market is projected to grow from USD 35.68 billion in 2026 to USD 54.69 billion by 2031, at a CAGR of 8.9% during the forecast period.

Browse 350 market data Tables and 75 Figures spread through 420 Pages and in-depth TOC on ‘Risk Analytics Market – Global Forecast to 2031’

Risk Analytics Market Size & Forecast:

Market Size Available for Years: 2021–20312025 Market Size: USD 31.61 billion2026 Market Size: USD 35.68 billion2031 Projected Market Size: USD 54.69 billionCAGR (2026–2031): 8.9%

Risk Analytics Market Trends & Insights:

The market is driven by increasing adoption of predictive analytics, artificial intelligence, machine learning, quantitative risk modeling, fraud detection, stress testing, and integrated risk management platforms across banking, insurance, capital markets, and other industries.Software is estimated to account for 37.2% of the Risk Analytics Market in 2026.The technology risk segment is expected to register the fastest growth of 11.4% CAGR between 2026 and 2031.The healthcare & life sciences segment is expected to be the fastest-growing segment across the forecast period.North America is estimated to account for the largest regional share of 37.01% in 2026.

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The expansion of the Risk Analytics Market is influenced by various factors, including the growing frequency and complexity of global risks, the increasing demand for efficient decision-making tools in companies, and technological advancements like artificial intelligence (AI) and machine learning (ML). Organizations across sectors such as finance, healthcare, and manufacturing are using risk analytics to anticipate potential disruptions and ensure regulatory compliance. The growing reliance on big data, combined with the rise in IoT devices, has expanded the volume of data available for analysis, enabling more precise risk evaluations. Moreover, rising cyber threats, coupled with demand for robust cybersecurity strategies, are driving the need for risk management solutions. Additionally, the evolving landscape of climate-related risks and natural disasters is prompting organizations to integrate climate risk models into their assessments. Together, these factors underscore the need for comprehensive, timely risk management strategies, making risk analytics an essential resource in today’s business landscape.

By software type, the Governance, Risk, and Compliance (GRC) software segment is expected to account for the largest market share during the forecast period (2026–2031).

Governance, Risk, and Compliance (GRC) software dominates the Risk Analytics Market because it helps organizations meet stringent regulatory demands and follow internal policies. GRC software is designed to ensure that organizations operate within legal and ethical boundaries while minimizing compliance risks. As regulations grow more complex and sector-specific across regions, businesses increasingly adopt GRC solutions to automate compliance monitoring, maintain audit readiness, and ensure transparency. These systems provide real-time tracking and reporting, enabling organizations to quickly detect non-compliance or policy breaches and implement corrective measures. Moreover, GRC platforms can consolidate and standardize compliance processes across departments, improving efficiency and reducing the risk of human error. As firms face rising costs from regulatory fines and reputational damage, the importance of robust GRC systems continues to grow, reinforcing their dominance in the risk analytics sector.

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By risk type, strategic risk is projected to grow at the second-fastest rate in the Risk Analytics Market during the forecast period.

Strategic risk analytics is expected to gain importance as organizations address uncertainties related to market dynamics, competitive positioning, business diversification, and long-term sustainability. Increasing market volatility and interconnected business environments are driving the need to assess risks from market concentration, new product development, and expansion into unfamiliar markets. Digital transformation, evolving business models, and platform-based strategies also introduce interconnected risks that require systematic assessment and monitoring. Strategic initiatives such as mergers, partnerships, and business expansion can also expose organizations to financial, operational, and competitive uncertainties. Risk analytics supports these activities by enabling scenario analysis, predictive modeling, and data-driven evaluation of potential outcomes. These capabilities help organizations assess the implications of strategic decisions, identify emerging threats, and align risk management practices with business objectives.

By region, North America is estimated to account for the largest share of the Risk Analytics Market in 2026.

Regional demand is supported by the adoption of risk analytics across banking, insurance, healthcare, and other industries. Organizations in the region use these solutions for credit risk assessment, fraud detection, regulatory compliance, cybersecurity risk monitoring, and operational risk management. Regulatory frameworks, including Basel III and the Dodd-Frank Act, contribute to demand for risk measurement, reporting, and compliance solutions in the financial sector. The integration of artificial intelligence, machine learning, big data analytics, and cloud computing is expanding the application of risk analytics in risk identification, predictive modeling, and decision-making. The presence of established technology providers, financial institutions, and specialized analytics vendors also contributes to the development and adoption of risk analytics solutions across the region.

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Top Companies in Risk Analytics Market:

The Top Companies in Risk Analytics Market are Marsh McLennan (US), Aon (England), Deloitte (UK), Capgemini (France), Moody’s Analytics (US), IBM (US), Oracle (US), FIS (US), Lockton (US), SAS Institute (US), MetricStream (US), Milliman (US), and Protiviti (US).

Risk Analytics Market – Investment & funding + Merger & Acquisition

Investment And Funding Context

Investment activity in the Risk Analytics Market is increasingly focused on credit risk modeling, predictive analytics, regulatory compliance, fraud detection, and AI-enabled risk intelligence. In August 2026, ICRA Limited launched ICRA Risk & Analytics, bringing together ICRA Analytics, Fintellix, and D2K Technologies after completing acquisitions totaling USD 30.65 million. The platform was designed to address risk management, regulatory compliance, and data management requirements for financial institutions, regulators, and corporates.

Technology development and strategic collaborations also remained important in 2026. In April 2026, Moody’s announced the integration of its credit intelligence and analytical capabilities into Microsoft 365 Copilot workflows, expanding access to credit ratings, research, entity data, and related risk intelligence. In August 2026, Moody’s also announced that its intelligence was available through Google Cloud’s Gemini Enterprise for Financial Services. These developments show investment in integrating risk analytics with enterprise AI platforms rather than relying solely on standalone analytical systems.

Revenue Shift Context

Revenue generation in the Risk Analytics Market spans software subscriptions, analytical data, risk models, regulatory reporting solutions, and advisory services. Financial institutions and enterprises use these capabilities for credit assessment, market risk measurement, portfolio monitoring, fraud detection, and compliance management. In July 2026, FICO reported third-quarter fiscal 2026 revenue of USD 674.2 million, including USD 215.3 million from its Software segment, which covers analytics and digital decisioning technology. The company’s reported results demonstrate the commercial importance of software-based analytics and decisioning, although its total revenue also includes scoring solutions and should not be treated as Risk Analytics Market revenue alone.

Insurance-focused analytics also represents an important revenue source for providers serving property, casualty, and catastrophe risk applications. Verisk reported USD 806 million in revenue for the second quarter of 2026, up 4.3% year over year. However, this figure reflects company-wide revenue rather than revenue attributable exclusively to risk analytics. Accordingly, company financial results should be distinguished from revenue generated specifically within the Risk Analytics Market when evaluating competitive positions.

Mergers & Acquisitions

Direct mergers and acquisitions among pure-play risk analytics vendors remain selective, while strategic acquisitions and partnerships help companies expand their capabilities in risk modeling, financial data analytics, regulatory compliance, fraud detection, and enterprise risk management. Transactions and integrations in this market can strengthen proprietary data assets, analytical models, risk intelligence, and software capabilities. Companies also use acquisitions to expand their coverage of credit risk, insurance risk, operational risk, and regulatory reporting, enabling them to serve a broader range of financial institutions and enterprises.

Recent examples illustrate this trend. In July 2026, Moody’s expanded its partnership with Intapp by integrating credit risk assessments, entity screening, and ownership data into Intapp’s Celeste AI platform, supporting risk evaluation and due diligence workflows. In April 2026, Cartan Trade partnered with Moody’s to incorporate credit risk data, default-risk insights, beneficial ownership information, and media monitoring into its platform through APIs, supporting underwriting and credit-limit monitoring. In September 2026, Moody’s and Euler ILS Partners signed a multi-year agreement to use catastrophe risk models, cyber risk models, and exposure datasets for underwriting, portfolio management, and investment decisions in insurance-linked securities. These developments demonstrate how partnerships and integrations can expand access to risk intelligence, strengthen analytical workflows, and support risk assessment across credit, insurance, and catastrophe-related applications.

RISK ANALYTICS MARKET: MERGERS AND ACQUISITIONS, JANUARY 2026–OCTOBER 2026

Month & Year

Deal Type

Company 1

Company 2

Description

October 2026

Product Collaboration

Moody’s Analytics

Allvue Systems

The companies launched the EDF-X Private Credit Model, combining Moody’s credit risk modeling with Allvue’s private credit performance data to identify early indicators of borrower stress.

August 2026

Platform Launch Following Acquisitions

ICRA Limited

Fintellix and D2K Technologies

ICRA launched ICRA Risk & Analytics after completing acquisitions totaling INR 296.2 crore, consolidating its analytics, risk, and technology businesses under one platform.

August 2026

Strategic Integration

Moody’s

Google Cloud

Moody’s made its credit ratings, research, entity information, and risk intelligence available through Gemini Enterprise for Financial Services using its Credit Model Context Protocol server.

July 2026

Acquisition

Verisk

McKenzie Intelligence Services

Verisk announced the acquisition of McKenzie Intelligence Services to strengthen catastrophe preparation and response capabilities using geospatial intelligence and event-related analytics.

April 2026

Strategic Partnership / Integration

Moody’s

Microsoft

Moody’s expanded the integration of its credit intelligence, research, entity data, and analytical workflows into Microsoft 365 Copilot and related AI-powered enterprise tools.

Company Revenue Share Details

The top five companies account for approximately 32.6% of the Risk Analytics Market in 2025. The leading group comprises Marsh McLennan, Aon, Deloitte, Lockton, and Moody’s Analytics, reflecting their established presence across enterprise risk management, financial risk analytics, risk advisory, insurance analytics, and regulatory compliance. The leading companies differentiate themselves through their risk modeling capabilities, proprietary data assets, predictive analytics, credit risk assessment, and integration with enterprise risk management workflows. Marsh McLennan and Aon provide risk advisory and insurance-related analytics, while Deloitte and Lockton support organizations through risk consulting, exposure assessment, and mitigation strategies. Moody’s Analytics specializes in financial risk intelligence, credit risk modeling, economic forecasting, and stress testing. Other providers, including FICO, Verisk Analytics, SAS Institute, Oracle, and IBM, contribute to the competitive landscape through capabilities in credit scoring, insurance risk analytics, statistical modeling, and enterprise risk management.

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ManpowerGroup Elects Lidia Fonseca to its Board of Directors

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October 28, 2026

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MILWAUKEE, Oct. 28, 2026 /PRNewswire/ — ManpowerGroup (NYSE: MAN) today announced the election of Lidia Fonseca, former Executive Vice President and Chief Digital and Technology Officer at Pfizer, to its Board of Directors, effective November 1, 2026.

“Lidia brings a rare combination of technology leadership, business transformation experience and a clear understanding of how AI can create value at scale,” said Jonas Prising, ManpowerGroup Chair & CEO. “Her strategic perspective, operational expertise and track record of leading change strengthen our ability to evolve the business and advance our transformation strategy. We are pleased to welcome her to our Board.”

Fonseca served as Chief Digital and Technology Officer and Executive Vice President of Pfizer from January 2019 to April 2026, leading the company’s enterprise AI, digital, data and technology strategy, as well as Learning & Development, and Business Process Excellence. She built Pfizer’s enterprise AI program from inception, and scaled it across the enterprise, contributing to significant growth and cost savings. She currently serves as Senior Advisor to Pfizer’s Chief Executive Officer and serves on the Board of Directors of Medtronic plc.

Previously, Fonseca spent a decade in diagnostics as Senior Vice President and Chief Information Officer of Quest Diagnostics and, earlier, of LabCorp. She began her career in operations and executive leadership roles at Philips Healthcare. Fonseca holds a bachelor’s degree from the University of California, Berkeley, and an MBA and a Master of Business Informatics from Rotterdam School of Management at Erasmus University.

ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World’s Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.

For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.

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SOURCE ManpowerGroup

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