Pfleiderer Group has appointed Donald Featherstone, currently Chief Restructuring Officer, as interim CEO with immediate effect, following the departure of former CEO Dr. Hicham Abel by mutual agreement.
Donald Featherstone will manage group operations alongside Mathias Schwägerl (CFO), Jonas Reed (COO), and Stefan Zinn (CCO), bringing extensive experience in corporate transformation, performance improvement, and financial stabilization to the role.
The management board will continue the course already begun, with a central focus on preparing a business plan for the group's next development phase, including investments in plants, processes, and sales organizations to strengthen competitiveness and lay the foundation for sustainable growth.
The financial basis for this direction is formed by the recently announced agreement with bondholders, which provides for a significant reduction in debt and additional capital to support the company's future business and operational development.
Pfleiderer is a leading manufacturer of high-quality engineered wood products, laminates and resin-based adhesives.