The Board of Ascencia Limited announced that Mr. Frédéric Tyack will be stepping down from his position as Chief Executive Officer ("CEO") to take on new challenges. While this decision will be effective December 31, 2023, Mr. Tyack will be working alongside the company's management team under a consultancy agreement until December 2024, ensuring a smooth handing over to the upcoming leadership structure. Mr. Simon Harel, a Chartered Accountant and Chartered Financial Analyst with previous experience as Asset Manager at Ascencia, has been appointed as the new CEO effective January 2024.

He has solid expertise in Corporate Finance and has served leadership roles in the management and turnaround of several companies.