Woodbois taps Federico Tonetti for CEO

African-focused forestry timber group Woodbois said on Monday that Federico Tonetti would join the firm as chief executive officer, with immediate effect.

Woodbois stated Tonetti was "a highly experienced senior executive", with a track record of delivering business model transformation and operational optimisation for multi-national enterprises.

Most recently, Tonetti was the group safety and sustainability director of contract food-service company Compass Group. Prior to this, he was the country CEO for LafargeHolcim, a Polish building materials and solutions provider.

Paul Dolan, previously both chair and CEO of the AIM-listed firm, will assume the position of executive chair of the company, and remain fully involved in the day-to-day running of the business and especially its strategic development.

As of 1010 GMT, Woodbois shares were up 1.02% at 4.95p.