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June 10, 2016

Rui Correia the new CEO for Sonae-Arauco

Rui Correia the new CEO for Sonae-Arauco

Further to the completion of the strategic partnership between Sonae Indústria and Arauco for the European and South African markets, Rui Correia and Jan Bergmann have been appointed as CEO and CITO of Sonae Arauco, SA (a company held in 50% by Sonae Indústria and in 50% by Arauco).

Further on, Rui Correia and Jan Bergmann have resigned to their positions as Directors of Sonae Indústria, as CEO and CITO, respectively and the Board of Directors co‐opted Louis Brassard, COO of Tafisa Canada, to take up one of the vacancies in the Board of Directors.

Taking into account that with the completion of the partnership with Arauco, the operational activity of Sonae Indústria will be reduced, becoming primarily a financial holding company, The Board of Directors decided to eliminate the Executive Committee, as well as the Corporate Responsibility, Environment and Ethics Committee and the Ethics Sub‐committee, assuming directly those functions.

The Board of Directors has decided to appoint a Management Committee, comprising Christopher Lawrie and Louis Brassard, who will be 100% dedicated to the management of Sonae Indústria and its subsidiaries, and by Frederico Moniz, who is responsible for the Laminates & Components business, and to appoint Christopher Lawrie as Chairman of the Management Committee.

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