Ontex Board announces departure of CEO Michael Teacher and nomination of Charles Bouaziz as new CEO; CFO also leaving in 2013




ZELE, Belgium, November 15, 2012-

The Ontex Supervisory Board today announces the nomination of Charles Bouaziz as the new CEO for Ontex, who will take up the position in Q1 2013. Michael Teacher, Ontex CEO since 2006, will manage the transition and handover process.

The new CEO will continue to strengthen the Group's commercial and operational platform which has been established by CEO Michael Teacher and CFO Chris Parratt over the past six years. The new CEO will take over in Q1 2013, when the handover will start.Michael Teacher will be pursuing new challenges and CFO Chris Parratt will be joining him in the course of 2013, once a new CFO has been appointed and a seamless transition has been completed.


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