Asuncion, December 1st, 2022

Paracel, an afforestation and pulp mill project in Paraguay, today announces that the company’s CEO Nils Grafström (75) has decided to leave his position with immediate effect due to an urgent health condition.

Paracel’s board of directors has appointed director and co-founder Per Olofsson (50) as interim CEO. Per Olofsson has been working alongside Nils Grafström since before the company was founded and is therefore well positioned to continue the pioneering work of Mr Grafström. Paracel’s board expresses its gratitude for the outstanding achievements of Mr Grafström on behalf of the company.

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

For any question, please contact latifi.chelala@paracel.com.py