Precious Woods Holding Ltd.

EANS-Adhoc: Precious Woods Holding Ltd./The Board of Directors has nominated its President Ernst A. Brugger additionally Delegate of the Board of Directors and acting CEO of the Precious Woods Group.

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Company Information

02.11.2009

The Board of Directors has nominated its President Ernst A. Brugger as per November 1, 2009 additionally Delegate of the Board of Directors and acting Chief Executive Officer of the Precious Woods Group. This leaves all strategic and operational decisions in one hand.

The efforts to implement the decisions approved by the Board of Directors for the company´s reorganisation and measures to cut costs in the current difficult economic conditions call for efficient and rapid execution. The Board of Directors is convinced that Ernst A. Brugger is the ideal candidate to implement the measures required to improve the operational results in the short run and to further develop the company´s highly regarded social and ecological responsibility.

Andreas Heusler, CEO of the Group since 1.1.2006 stepped down from his position at the end of October and will leave the company in due course. The Board of Directors thanks him for his contribution and wishes him all the best for his future. For a certain period of time Andreas Heusler will continue to be available for special projects and assignments. The search for a new CEO has been initiated.

The company will inform within the next weeks about further operational measures as well as the future strategic direction of Precious Woods.

Agenda: Precious Woods will hold an Investor event on December 2, 2009, 16.00 h, in Zurich. Topic: The future of tropical forests, their economical and ecological importance related to the United Nations Climate Change Conference in Copenhagen in December 2009.

end of ad-hoc-announcement ========================================== ====================================== Precious Woods is one of the leading companies in the area of sustainable management and use of tropical forests. The company's core activities include reforestation and sustainable management of tropical forests, timber processing and the trading of FSC-certified timber products. The generation of emission rights and electricity from recovery wood represent further integral elements of the company’s business. The shares of Precious Woods Holding have been traded on the SWX Swiss Exchange since March 2002. Further information about Precious Woods is available at www.preciouswoods.com.

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ots Originaltext: Precious Woods Holding Ltd.
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Patrick Mauron
Head of Corporate Communication
Precious Woods Holding Ltd.
Militärstrasse 90
CH-8021 Zürich
Tel.:    +41 44 245 81 20
E-Mail: media@preciouswoods.com

Branche: Forestry & Timber
ISIN:      CH0013283368
WKN:        982280
Index:    SPI
Börsen:  SIX Swiss Exchange / official dealing



Weitere Meldungen: Precious Woods Holding Ltd.

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