Ontex Group NV announced changes to its board of directors and the dissolution of the strategy committee. Following the appointment of Gustavo Calvo Paz as CEO of the company and his resignation from the Board of Directors on November 9, 2022, the board has reviewed its size and composition. It concluded that a smaller Board would better serve its aim to support the acceleration of the execution of the Ontex strategy.

To that effect Mrs. Regi Aalstad, independent director, and Mr. Aldo Cardoso, a director who was appointed upon proposal of GBL, have decided to step down from the board of directors with effect as of January 1, 2023. Following the renewed strategy announced at the end of 2021, and its successful initial deployment in 2022, the board of directors also decided to dissolve the Strategy Committee it established in April 2021 as a temporary committee to support the re-definition of the company's strategy.