REG - Woodbois Limited - CEO Departure Commences Restructuring

WoodboisAnnouncement

05/01/2024 07:00

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RNS Number : 7218Y  Woodbois Limited  05 January 2024

5th January 2024

 

Woodbois Limited

("Woodbois", "the Group" or "the Company")

 

CEO Departure Commences Restructuring to Drive Operational Efficiency

 

Woodbois Ltd (AIM: WBI), a leading company in the international timber
industry, today announces a strategic leadership transition and a fundamental
restructuring initiative geared towards optimising operational efficiency.

 

BOARD CHANGE

Effective immediately, Mr. David Rothschild, the current Chief Executive
Officer, will step back from his role as CEO and director of the Company but
will continue to provide advisory support to the Company, when requested, for
the coming few months. Mr. Guido Theuns, currently serving as the Executive
Chair of Woodbois Ltd, is appointed as CEO with immediate effect.

 

Woodbois Ltd is integrating the roles of CEO and Executive Chair as part of a
broader restructuring strategy. This adjustment aims to foster a more cohesive
leadership approach, thereby enhancing decision-making processes and improving
operational efficiency.

 

Additionally, the Company is committed to further strengthening the board and
is actively seeking to appoint an additional Independent Non-Executive
Director.

 

REPORTING CENTRES

As part of its commitment to excellence, Woodbois is reinforcing the reporting
of and competitive capital allocations to, its distinct profit centres. This
structural refinement empowers each profit centre management by facilitating a
focused approach to financial management and accountability.

 

The identified profit centres are as follows:

1.   Sawmill Division: Responsible for wood processing and lumber
production.

2.   Veneer Factory Division: Focused on the manufacturing and distribution
of veneer products.

3.   Trading Department: Engaged in the trading of  Woodbois and third
party timber and related commodities.

4.   Carbon Credits Projects Division: Dedicated to the development and
management of carbon offset initiatives.

 

This reinforced divisional structure enables Woodbois to administer the
financial parameters of each profit centre independently, contributing to the
overall success and sustainability of the Company.

 

Woodbois Ltd maintains its unwavering commitment to delivering value to
stakeholders and firmly believes that these strategic changes will position
the Company for long-term success in a dynamic and competitive market.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").

 

Enquiries:

 

 Woodbois Limited

 Guido Theuns, Executive Chair & CEO               + 44 (0)20 7099 1940

 Canaccord Genuity (Nominated Advisor and Broker)  + 44 (0)20 7523 8000

 Henry Fitzgerald-O'Connor

 Harry Pardoe

 Novum Securities (Joint Broker)                   +44 (0) 20 7399 9427

 Colin Rowbury, Jon Bellis

 Axis Capital Markets Limited (Joint Broker)       +44 (0) 203 026 0449

 Ben Tadd, Lewis Jones

 

 

 

About Woodbois Ltd: Woodbois Ltd is a Guernsey-based company at the forefront
of the timber industry, committed to delivering quality products and
sustainable solutions. With a legacy of innovation and a vision for the
future, Woodbois Ltd strives to set industry standards and exceed
expectations.

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