LONDON: Woodbois Ltd (AIM: WBI), a prominent player in the global timber industry, today reveals a major shift in its leadership and a comprehensive overhaul of its organisational structure to boost operational performance.
BOARD CHANGE
Mr. David Rothschild, the incumbent Chief Executive Officer, will relinquish his role as CEO and director of the Company with immediate effect, but will remain available as an advisor to the Company for the next few months, as needed. Mr. Guido Theuns, who is currently the Executive Chair of Woodbois Ltd, will take over as CEO effective immediately.
Woodbois Ltd is merging the roles of CEO and Executive Chair as part of a wider restructuring plan. This change aims to promote a more unified leadership style, thereby improving decision-making processes and operational efficiency.
Furthermore, the Company is dedicated to enhancing the board and is actively looking to appoint an additional Independent Non-Executive Director.
REPORTING CENTRES
As part of its pursuit of excellence, Woodbois is strengthening the reporting of and competitive capital allocations to, its separate profit centres. This structural improvement empowers each profit centre management by enabling a focused approach to financial management and accountability.
The identified profit centres are as follows:
- Sawmill Division: In charge of wood processing and lumber production.
- Veneer Factory Division: Concentrated on the manufacturing and distribution of veneer products.
- Trading Department: Involved in the trading of Woodbois and third party timber and related commodities.
- Carbon Credits Projects Division: Committed to the development and management of carbon offset projects.
This reinforced divisional structure allows Woodbois to manage the financial parameters of each profit centre separately, contributing to the overall success and sustainability of the Company.
Woodbois Ltd remains steadfast in its 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.