TIDMWBI
RNS Number : 5759R
Woodbois Limited
08 November 2021
8 November 2021
Woodbois Limited
("Woodbois", the "Group" or the "Company")
Appointment of Chief Executive Officer
Woodbois Limited (AIM: WBI), the African-focused forestry,
timber trading, reforestation and voluntary carbon credit company,
is pleased to announce the appointment of Federico Tonetti to the
role of Chief Executive Officer with immediate effect. Paul Dolan,
previously Chair and CEO, will assume the position of Executive
Chair of the Company, and will remain fully involved in the day to
day running of the business and especially its strategic
development.
Federico is a highly experienced senior executive, with a track
record of delivering business model transformation and operational
optimisation for multi-national enterprises. Most recently,
Federico was the Group Safety & Sustainability Director of
Compass Group PLC, the largest contract food-service company in the
world and a constituent of the FTSE100. Prior to this, he was the
Country CEO for LafargeHolcim, a global leader in building
materials and solutions, in Poland, and before this held other
senior positions within Lafarge. Federico also worked as a Strategy
Consultant for Bain and Company.
Federico holds a Bachelor's degree in Business Administration
from Bocconi University in Milan and an International MBA from the
Instituto de Empresa Business School in Madrid.
Executive Chair, Paul Dolan, said:
"As previously advised, we have been searching for a CEO in
order to both broaden and deepen our management team in this period
of rapid growth and as part of the improvements to our governance
by splitting the Chair and CEO roles.
We are very pleased to welcome Federico to the team and we are
impressed by the start he has made since consulting for Woodbois
over the past three months. He brings extensive experience of
operating internationally with companies of considerable scale. His
background in successfully delivering increased operational
efficiencies and executing on successful business transformations
will be important to Woodbois, as we look to continue to deliver
long term value creation for all stakeholders. Federico also has
considerable ESG credentials, having advised multi-national
corporations on their sustainability strategies, which is of
importance to us, given our ability to help organisations achieve
their carbon reduction objectives.
I firmly believe in Woodbois' potential to not only create value
whilst also playing a growing role in sustainability and
reforestation., As Executive Chair I will be fully involved in the
Company, and of course remain a significant shareholder. I am
delighted to be able to bring someone with Federico's level of
experience on to the Board to ensure we continue to deliver on the
ambitious growth targets we have in place."
Chief Executive Officer, Federico Tonetti, said:
"I am very pleased to be joining Woodbois on a full-time basis.
At an operational level, Woodbois has delivered a robust
performance to date in 2021 and I look forward to working with the
team to increase output and deliver further operational synergies
going forward. Woodbois is also well placed to make a significant
impact in the Voluntary Carbon Market, a high growth market segment
that continues to attract high levels of interest from Governments,
corporates and investors the world over. This is a tipping point in
the Company's development and I look forward to working closely
with Paul and the wider team as we look to build the business and
generate value for the Company's stakeholders."
Regulatory Disclosures:
The following information regarding the appointment of Federico
Carlo Francesco Tonetti (aged 49) is disclosed under Schedule 2(g)
of the AIM Rules for Companies:
Current directorships and/or Former directorships and/or
partnerships: partnerships (within the last
five years):
NONE Lafarge Cement SP. Zoo
Lafarge Cement Spó ka Akcyjna
Semaphore Coaching LLP
Mr Tonetti does not hold any ordinary shares in the Company but
it is intended that he will be allocated options over 30 million
shares under the Company's Long Term Incentive Plan. The options
will not be capable of being exercised prior to 4 years from grant
and they will be subject to stretch share price and earnings
criteria. A further announcement will be made on formal grant of
the options.
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
Enquiries:
Woodbois Limited
Paul Dolan - Chair + 44 (0)20 7099 1940
Canaccord Genuity (Nominated Advisor and Broker)
Henry Fitzgerald-O'Connor
James Asensio
Thomas Diehl + 44 (0)20 7523 8000
Celicourt Communications (IR/PR) +44 (0)20 8434 2643
Mark Antelme woodbois@celicourt.uk
Jimmy Lea
Background on Woodbois
Woodbois Limited (AIM:WBI) is an African-focused forestry
company, divided into three distinct, but highly complementary
divisions comprising the production and supply of sustainable
African hardwood products, the trading of hardwood and hardwood
products, and a reforestation and carbon credit division.
Woodbois' forestry division has production facilities in Gabon
and Mozambique, managing a total of c470,000 hectares of natural
forest concessions. The trading division comprises a highly
experienced team of timber specialists, who source and supply
sustainable timber to a global customer base. Its proprietary
technology developed in house, captures, stores and presents data,
providing a matching engine to build scale and optimise trading
opportunities with its global customer base.
The Company's carbon sequestration and trading division was
formed in March 2021 and aims to generate voluntary carbon credits
for corporate partners through the delivery of large-scale
reforestation projects.
The Company's focus on the transparency and sustainability of
its timber operations has been recognised by The Zoological Society
of London, which ranked Woodbois joint sixth in its Sustainability
Policy Transparency Toolkit ('SPOTT") ESG policy transparency
assessments for the worldwide timber and pulp industries for
2021.
Please follow the Company on Twitter: @WoodboisLtd
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END
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November 08, 2021 02:00 ET (07:00 GMT)
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