PERTH, Australia--(BUSINESS WIRE)--Santanol, a leading producer of sustainable sandalwood for products ranging from fine fragrance to cosmetics to high-end furniture, announced the appointment of Remi Clero as Chief Executive Officer, effective immediately.
As the most sought-after Santalum album (Indian sandalwood) trees are indigenous primarily to India, this high demand has led to deforestation thereby fostering an illegal market which has led the tree to being listed as vulnerable to extinction in the wild.
Global investment firm KKR partnered with Santanol to address the issue of the deforestation of native sandalwood trees by providing an alternative source to the illegal market by offering a sustainable source for sandalwood. Today, the company manages a 2,100-hectare plantation in Australia which uses technology and advanced horticultural techniques to improve the survival rates of its crop to create a sustainable forestry environment.
Mr. Clero, French national with two decades of experience in the fragrance and cosmetics industry, most recently served as Chief Executive Officer of Amore Pacific Europe S.A.S, one of Korea’s leading beauty corporations. Previously, Mr. Clero was CEO of Paco Rabanne and later Cradle Holdings managing brands such as Erno Laszlo, Penhaligon’s and L’Artisan Parfumeur.
Mr. Clero said, "Santanol has distinguished itself in the sandalwood market for its focus on sustainability and on providing a solution to the issue of deforestation that is rampant in this industry. Being asked to lead Santanol is a great honour, and the company is poised for strong growth given its unique offering in the market. I look forward to progressing Santanol’s mission of supplying pure sandalwood alongside this experienced team.”
With the investment support of KKR, Santanol focuses on scaling production of oil and timber products.
Ed Bostock, board member and Director at KKR, said, “Santanol is an example of KKR backing a leading and innovative company that brings a business solution to a societal challenge. Remi is a proven leader with the extensive expertise to build upon Santanol’s foundation in sustainable forestry and thereby become a leader in fine fragrance industry.”
Mr. Clero entered the fine fragrance industry following a successful career with the Boston Consulting Group and PepsiCo. He holds an MBA from Harvard Business School and a master’s degree in aerospace engineering from École Nationale Supérieure de L'aéronautique et de L'espace.
Santanol is a portfolio company of the investment group KKR and founded in 2005 by veterans within the Australian forestry industry. The company is headquartered in Perth with 2,100 hectares of sandalwood plantations located primarily in the northern part of Australia. The oldest trees in the plantation are more than 25 years while first larger scale plantation started in 1999. The company is focused 100% on growing and harvesting Santalum album (Indian sandalwood).
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.