FERONIA INC. ANNOUNCES MANAGEMENT CHANGES
Feronia Inc. (“Feronia” or the “Company”) (TSX-V: FRN) today
announced that Bernard Francois will cease as the Company's Chief
Executive Officer and as a director of the Company’s applicable
subsidiaries with immediate effect and will leave the Company on
May 1, 2020.
Mr. Frank Braeken, currently Non-Executive
Chairman, has become Interim Executive Chairman.
For further information please
|Frank BraekenInterim Executive
Chairman, Feronia Inc.+971 5660 30358 firstname.lastname@example.org
||Paul DulieuDirector of
Communications and Corporate Development, Feronia Inc.44 (0)7554
About Feronia Inc.
- Feronia is an agribusiness operating in the Democratic Republic
of the Congo (DRC).
- At the heart of Feronia lies a long established palm oil
business, Plantations et Huileries du Congo (PHC), which has three
remotely located plantations; Lokutu, Yaligimba and Boteka.
- When Feronia acquired its palm oil business from Unilever in
2009, it had suffered from years of underinvestment and
considerable disruption caused by conflict in the DRC. Our initial
focus has been on rebuilding the business and resuming production
to secure its future and the livelihoods of the thousands of people
we directly employ.
- Feronia’s plantations produce crude palm oil (CPO) and palm
kernel oil (PKO). CPO is part of the staple and traditional diet of
the Congolese and, with our products sold locally in the DRC, we
are well placed to help decrease reliance on imports and increase
food security and quality.
- Feronia prides itself on being the guardian of our 107 year-old
palm oil business and its employees, communities, and environment.
We have a long term commitment to improve the living and working
environment of our employees and their communities and are
committed to sustainable agriculture, environmental protection and
community inclusion. Feronia has in place an Environmental and
Social Action Plan which is focused on implementing environmental
and social best practice and improving social infrastructure.
- Feronia is implementing IFC/World Bank standards for
environmental and social sustainability. Our oil palm replanting
programme is brownfield in nature – replacing old palms with new –
and it has no reliance on deforestation.
- Feronia’s management team has extensive experience in managing
both plantations and farming operations in emerging markets.
- For more information please see www.feronia.com
Neither the TSX Venture Exchange nor its
regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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