Greg Shapleigh Steps Down from the Board of Directors of MIPS AB
August 19, 2019 at 10:00 am EDT
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Greg Shapleigh has informed MIPS AB (MIPS) that he will assume a key position within the bicycle industry. Due to the risk of a potential conflict of interest, Greg Shapleigh has decided to resign from his board position at MIPS AB (publ) with immediate effect. Greg Shapleigh has previously also worked in a consultancy role for MIPS, an agreement which ended in June 2019.
Mips AB is a Sweden-based company, which specializes in helmet safety and brain protection. The Company offers its MIPS Brain Protection System (BPS) that implies solutions protecting against rotational motion transferred to the brain from angled impacts to the head. BPS is designed to add protection in helmets due to the low friction layer, which enables a relative movement between the head and the helmet, mimicking the brainâs own protection system. The technology implements into bicycle, snow, motorcycle and equestrian helmets. More than 40 helmet brands use BPS, including Bell, Fox Head, Giro, Scott, Smith and Trek, among others. The Company determines only one segment as operations solely comprise sales of the component kit included in consumer products.