Klabin Announces Temporary CFO

Sergio Alfano will take over from Ronald Seckleman as CFO of Brazilian paper manufacturer Klabin on April 1, says a company official. The announcement follows the appointment of Reinoldo Poernbacher as CEO. However, the company says the changes are temporary and possible outside candidates may be brought into both senior positions. “We view these (temporary) changes as positive as the company has suffered from the perception of lackluster management and with its aggressive expansion program, in better hands, the stock could finally come into its own,” says Bradesco in a research note.