Ontex Announces Leadership Changes

Charles Bouaziz stepping down as CEO and Thierry Navarre appointed as CEO ad interim

AALST-EREMBODEGEM, Belgium--(BUSINESS WIRE)--Regulatory News:

Ontex Group NV (“Ontex” or “the Company”) (BSE:ONTEX) discloses that Charles Bouaziz is stepping down from his role of Chief Executive Officer of Ontex, with effect from July 30, 2020. Thierry Navarre has been appointed Chief Executive Officer ad interim.

Thierry Navarre has been on Ontex’s Executive Leadership Team since 2009 when he was appointed Chief Operating Officer, and became Chief Transformation Officer in 2019. Previously, he was the Group Supply Chain Director and has worked within Ontex for almost 15 years.

The Board of Directors has commissioned an executive search firm to coordinate the process of identifying a permanent Chief Executive Officer among internal and external candidates.

The Board of Directors thanks Charles Bouaziz for his contribution over the past seven and a half years, during which the Company developed from a European-focused private label manufacturer to a publicly-listed global personal hygiene player with an extensive portfolio of Retail Brands and Own Brands.

Hans Van Bylen, Chairman of the Board, declared: “As a Board we believe that Ontex benefits from strong products and positions across our key categories and markets, with clear potential for further development. We will fully support Thierry Navarre and the Ontex management team to lead the successful execution of our ongoing transformation initiatives. Our firm ambition remains to further improve our performance and drive value for our shareholders.”

Thierry Navarre, CEO, stated: “I feel honored to lead Ontex in these challenging times. I will focus on strengthening and improving our operations in order to make sure the Company keeps on moving ahead in the aftermath of the COVID-19 outbreak as we have done since the beginning of the crisis. I look forward to working with the entire Executive Leadership Team, the Board and all of our talented employees and partnering with all our customers to drive our operating profitability and return Ontex to a path of robust growth.”

Ontex is a leading international provider of personal hygiene solutions, with expertise in baby care, feminine care and adult care. Ontex’s innovative products are distributed in more than 110 countries through Ontex brands such as BBTips, BioBaby, Pompom, Bigfral, Canbebe, Canped, ID and Serenity, as well as leading retailer brands.

Employing some 10,000 passionate people all over the world, Ontex has a presence in 21 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of the Bel Mid^®. To keep up with the latest news, visit www.ontex.com or follow us on LinkedIn, Facebook, Instagram and YouTube.