Home / News / Ontex Group NV appoints Luc Missorten as BoD chairman

Ontex Group NV appoints Luc Missorten as BoD chairman

15 Apr '15

2 min read

Ontex Group NV, a leading manufacturer of branded and retailer brand hygienic disposable products, has announced leadership changes to its Board of Directors and related committees.

As part of the changes, Luc Missorten has been appointed as chairman of the Board with immediate effect, and succeeds Paul Walsh, who has resigned from his position on the Board, Ontex said in a press release.

Following the sale of all remaining shares by The Goldman Sachs Group, Inc. and TPG Group Holdings (SBS) Advisors, Inc., via their affiliated entity Whitehaven B, their six nominated directors Paul Walsh, Alex Mignotte, Antonio Capo, Michele Titi-Cappelli, Richard Butland and Simon Henderson have resigned from the Board of Directors. Ontex strengthened its Board of Directors at the time of the IPO with three independent non-executive directors, to allow for a smooth transition in case of changes in the capital structure of the Group.

Gunnar Johansson, independent director of Ontex Group NV, is appointed as the chairman of the remuneration and nomination committee, replacing Luc Missorten.

Missorten has been the chief executive officer of Corelio from 2007 until September 2014, and remains a serving board member, a position he has held since 2007. He is an independent director of Barco, chairing its audit committee and is a member of its remuneration committee. He is also an independent director of GIMV where he chairs the audit committee. He holds a law degree from Catholic University of Leuven, a Certificate of Advanced European Studies from College of Europe, Brugge and an LL.M from the University of California, Berkeley.

Luc Missorten said, “The Board would like to thank Paul and the outgoing directors for their contribution and unwavering commitment to the Company through a period of significant change, culminating in the successful IPO in June 2014. They have been instrumental in leading Ontex through its transformation process and setting up the business for continued success. (GK)

Fibre2fashion News Desk - India