Paracel announces Per Olofsson as interim CEO

Paracel, an afforestation project and pulp mill in Paraguay, announces today that the CEO, Nils Grafström (75), has decided to step down with immediate effect due to an urgent health condition.

The Paracel Board of Directors appointed director and co-founder Per Olofsson (50) as interim CEO. Per Olofsson has been working with Nils Grafström since before the company was founded and therefore has a deep understanding of the organization to continue the work started by Mr. Grafström. The Paracel Board of Directors expresses its gratitude for Mr. Grafström's outstanding achievements on behalf of the company.

Paracel is working with international headhunting agency Russell Reynolds to recruit the company's next CEO.

For any questions please contact latifi.chelala@paracel.com.py