Esther Berrozpe will become CEO of Ontex on January 1st. De Tijd and De Standaard write that on Tuesday. The Basque, who has been director of the diaper manufacturer since mid-2019, suggested three other candidates. One of them was veteran Thierry Navarre, who temporarily took over the reins this summer following the fall of CEO Charles Bouaziz. Navarra will leave the company in the spring.
Berrozze’s appointment marks the tentative endpoint of many changes at the helm of Ontex. In spring, chairman Luc Missorten had to make room for Hans Van Bylen (ex-Henkel). The Board of Directors was then also reorganized.
This came under heavy pressure from several large Ontex shareholders who are extremely dissatisfied with the company’s strategy and the ailing share price. Ontex’s largest shareholder is Frère-Holding GBL (19.98 percent).