Ontex Announces Board Changes

Ontex, a leading international provider of personal care solutions, announces further changes to its Board of Directors and the dissolution of the Strategy Committee.

Following the appointment of Gustavo Calvo Paz as CEO of the company and his resignation from the Board of Directors, the Board has reviewed its size and composition, and concluded that a smaller structure would better serve its objective of supporting the acceleration of the execution of Ontex’s strategy.

To that effect Regi Aalstad, independent director, and Aldo Cardoso, a director who was appointed upon proposal of GBL, have decided to step down from the Board of Directors with effect as of January 1, 2023.

Following the renewed strategy announced at the end of 2021, and its successful initial deployment in 2022, the Board of Directors also decided to dissolve the Strategy Committee it established in April 2021 as a temporary committee to support the re-definition of the Company’s strategy.

“We are committed to the execution of the strategy we presented at the end of last year, which is now well under way. On behalf of the Board, I would like to warmly thank Regi Aalstad and Aldo Cardoso for their many years of commitment to the Board of Ontex and their contribution to shaping the new strategy and culture and bringing Ontex to this stage of its governance and business and people development,” declared Hans Van Bylen, Chairman of the Board.