Enviva Inc. announced that its board of directors has appointed Glenn Nunziata as interim CEO in addition to his role as CFO, succeeding Thomas Meth, who has served as CEO since November 2022. Mr. Meth will remain President and, given his deep history contracting Enviva?s business, will focus his time on renegotiating existing customer contracts with the intent of improving Enviva?s profitability and returning the business to one that generates the majority of its cash flow from predictable, profitable take-or-pay contracts. Mr. Nunziata will focus primarily on strengthening the Company?s balance sheet by partnering with advisors to execute strategic and operational initiatives that ensure sufficient capital to fund ongoing operations, meet financial covenants, and advance greenfield projects.

Mr. Nunziata will also oversee all aspects of Enviva?s day-to-day operations. These leadership changes are effective as of November 9, 2023.