Lecta Announces Leadership Changes

Lecta Group CEO Gilles Van Nieuwenhuyzen will retire on April 30 following the successful recapitalisation of the Lecta Group and its split into three operationally and financially separate companies.

Gilles Van Nieuwenhuyzen said: 'For me this is a natural moment to step down from my CEO role and enter a new phase in life. I am turning 67 years old in a couple of weeks, the group has been recapitalised successfully, and we have now three companies in place with their own management and financing to drive value creation. I want to thank all employees for their dedication and the Board and main shareholders for their strong support during my time.'

Chairman Javier Abad said: 'Under Gilles leadership Lecta has navigated very turbulent times with huge energy, market, pricing and geopolitical volatility. We are very grateful for his experienced leadership during these difficult moments, for moving the strategic transformation forward and to his contribution to the recapitalisation closed two weeks ago. I am sure he will make excellent use of his time once retired at the end of April.'

Following the split of the group into three separate companies, there will be no Group CEO role anymore.

The CEOs of the three companies are:

• Garda Group (Fine Papers + Distribution): Corrado Lignana, who has a long experience in executive commercial positions in Fine papers and Specialties and has been with the company since 2012.

• Adestor Self-Adhesives: Ricard Balart, who has a long management experience in the self-adhesives and label industries. He has been leading Adestor Self-Adhesives since 2022.

• Specialties (Torraspapel): Ruben Hernando as interim CEO from May 1. He recently served as CEO of DS Smith for Southern Europe and brings over 30 years of experience in the paper industry. A new CEO will be joining soon and will be announced in due course.