Enviva Inc. (NYSE: EVA) (“Enviva” or the “Company”), the world’s
leading producer of sustainably sourced woody biomass, today
announced that Glenn Nunziata has been named the Company’s
Executive Vice President and Chief Financial Officer, effective
immediately.
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Glenn Nunziata (Photo: Business Wire)
“We are excited to welcome Glenn to Enviva’s executive team at a
time when our Company and the global biomass industry are serving
an increasingly important role in the energy transition, providing
energy security and defossilizing supply chains worldwide,” said
Thomas Meth, President and Chief Executive Officer. “Following the
difficult but necessary decisions we made in the first half of
2023, we have started to see improvements take hold in increasing
production from our existing asset portfolio and reducing costs
company-wide. In tandem with the constructive pricing environment
for our product, we are on the path to rebuilding a strong
financial foundation which is expected to support the significant
growth ahead for us and increase shareholder value over time.”
With deep expertise in finance, strategy, accounting, treasury,
and risk management, Mr. Nunziata brings more than 20 years of
strong leadership experience with a track record for implementing
enterprise-wide changes and driving key financial and process
improvements in large-scale organizations. Most recently, Mr.
Nunziata served as the Chief Financial Officer of Smithfield Foods
Inc., an $18 billion company that owns and operates processing
facilities across the U.S. and works with thousands of farmers and
landowners each year managing its diversified supply chain. Prior
to his tenure at Smithfield Foods Inc., he held various positions
of increasing responsibility at EY, most recently as a Partner in
Assurance Services.
Mr. Meth added, “We believe Glenn will play a key role in
improving our financial processes as we continue to focus on the
cost structure and profitability of our plants, contracts, and
supply chain. Glenn’s value-oriented mindset, dedication to leading
purpose-driven teams, and unwavering focus on our financial goals
will make him an invaluable asset to our stakeholders, and we look
forward to the contributions he will undoubtedly make as we
high-grade our finance function and scale our back office to
support the execution of our long-term growth strategy.”
Mr. Nunziata holds a Bachelor of Science and a Masters in
Accounting from James Madison University. He currently serves as
Vice Chairman of the Board of Directors of StoneBridge School and
sits on the Board of Advisors for the College of Business at James
Madison University.
Mr. Nunziata succeeds Shai Even, who held the role since 2018.
“I would like to thank Shai for his service over the past five
years and wish him the best of luck in his future pursuits,”
concluded Mr. Meth.
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of
industrial wood pellets, a renewable and sustainable energy source
produced by aggregating a natural resource, wood fiber, and
processing it into a transportable form, wood pellets. Enviva owns
and operates ten plants with a combined production capacity of
approximately 6.2 million metric tons per year in Virginia, North
Carolina, South Carolina, Georgia, Florida, and Mississippi, and is
constructing its 11th plant in Epes, Alabama. Additionally, Enviva
is planning to commence construction of its 12th plant, near Bond,
Mississippi. Enviva sells most of its wood pellets through
long-term, take-or-pay off-take contracts with primarily
creditworthy customers in the United Kingdom, the European Union,
and Japan, helping to accelerate the energy transition and to
defossilize hard-to-abate sectors like steel, cement, lime,
chemicals, and aviation. Enviva exports its wood pellets to global
markets through its deep-water marine terminals at the Port of
Chesapeake, Virginia, the Port of Wilmington, North Carolina, and
the Port of Pascagoula, Mississippi, and from third-party
deep-water marine terminals in Savannah, Georgia, Mobile, Alabama,
and Panama City, Florida.
To learn more about Enviva please visit our website at
www.envivabiomass.com. Follow Enviva on social media @Enviva.
Cautionary Note Concerning Forward Looking Statements
The information included herein and in any oral statements made
in connection herewith include “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of present or
historical fact included herein are forward-looking statements.
When used herein, including any oral statements made in connection
herewith, the words “could,” “should,” “will,” “may,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “project,” the
negative of such terms, and other similar expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management’s current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
Enviva disclaims any duty to revise or update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
hereof. Enviva cautions you that these forward-looking statements
are subject to risks and uncertainties, most of which are difficult
to predict and many of which are beyond the control of Enviva.
These risks include, but are not limited to factors, as described
in Enviva’s filings with the Securities and Exchange Commission
(the “SEC”), including the detailed factors discussed under the
heading “Risk Factors” in Enviva’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2022, as supplemented in the
Company’s Quarterly Reports on Form 10-Q for the fiscal quarters
ended March 31 and June 30, 2023.
Should one or more of the risks or uncertainties described
herein and in any oral statements made in connection therewith
occur, or should underlying assumptions prove incorrect, actual
results and plans could different materially from those expressed
in any forward-looking statements. Additional information
concerning these and other factors that may impact Enviva’s
expectations and projections can be found in Enviva’s periodic
filings with the SEC. Enviva’s SEC filings are available publicly
on the SEC’s website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20230830090441/en/
Kate Walsh Senior Vice President, Investor Relations &
Corporate Communications +1 240-482-3856
investor.relations@envivabiomass.com
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