DAVY VIEW

Mondi’s new CFO, Mike Powell, is joining at an interesting time. The outlook for the business (or any business for that matter) has rarely faced such uncertainty. However, Mondi’s liquidity and balance sheet position are strong, and Powell’s financial restructuring skills will not be required just yet. It will, however, be interesting to see how the company’s capital allocation strategy will evolve and how the new CFO will influence the deployment of the strong sustainable cashflow being generated by the business. If history is anything to go by, shareholders should benefit.