FINANCIAL REPORTS
The consolidated financial statements of The Forest Company have been prepared under the historical cost convention, except for the revaluation of investment properties, forest assets, planted land, buildings and carbonisation assets in accordance with IFRS as adopted by the European Union. The financial statements are presented in USD, the Company’s functional and reporting currency.
Johan Larsson
Johan Larsson was CEO of Timber Capital between July 2015 and December 2025. Mr. Larsson has more than 20 years’ experience in the forestry and financial sectors. From 2007 to 2008, Mr. Larsson worked as a senior forest investment specialist at a private equity firm that is part of the Louis Dreyfus Group. From 2003 to 2007, Mr. Larsson worked as a consultant at Pöyry Forest Industry Consulting, the leading global management consulting company providing services to clients operating in the value chain from forest resources to the end-consumer.
As part of Pöyry Forest Industry Consulting team Mr. Larsson was based in London and supervised, managed and was involved in projects in Europe, Latin America, Africa and China. From 2001 to 2003, he worked as a sales representative at Baro Wood, a Swedish sawmill, where he was responsible for the launch of a new product line as well as sales of the existing product portfolio. Mr. Larsson is an owner and manager of forest assets in Sweden and his family has been in the forestry business in Sweden during four generations, activities that include sawmilling, harvesting, and forest management. Mr. Larsson holds an MSc in forestry and a major in business economics.
Mikkel Brings
Mikkel Brings has over a decade of experience in timberland investments. From 2014 to 2021, he was Senior Portfolio Manager at BTG Pactual’s Timberland Investment Group (TIG). He timberland portfolios and separate accounts across Brazil, Uruguay, the United States, South Africa, and Europe. Mr. Brings worked with institutional investors, including North American and European pension funds, sovereign wealth funds, and high-net-worth individuals.
Previously, he was with the International Woodland Company (IWC) in Copenhagen, progressing from Investment Analyst to Senior Investment Manager. Mr. Brings holds an MSc in Forestry (University of Copenhagen / University of British Columbia) and a Graduate Diploma in Business Administration from Copenhagen Business School.
INVESTMENT MANAGER
The Forest Company has entered into an investment management agreement with the investment manager, &Forest, under which the investment manager will be responsible for managing the operations of The Forest Company, in compliance with our policies and subject to the overall supervision of the Board.
BOARD OF DIRECTORS
Independent Non-Executive Chairman
Rainer Häggblom
Independent Non-Executive Chairman
Rainer Häggblom has participated in strategy and investment planning, and mergers and acquisitions assignments, in more than 50 countries and for a wide variety of companies. Mr Häggblom joined the Jaakko Pöyry Group in 1984. In 1989, he was appointed vice president of corporate investment planning, in 1990 as chief operating officer of the consulting division and in 1992 as President of Jaakko Pöyry Consulting Oy. In 1999, he was appointed chairman and CEO of Jaakko Pöyry Consulting Oy. In 2006 the name of the company was changed to Pöyry Forest Industry Consulting Oy. In 2008, he left Pöyry to set up his own independent advisory company, Häggblom & Partners. Mr Häggblom has participated in a number of international conferences, and has published numerous articles on forestry and forest industry issues. He has also chaired several international forestry, pulp and paper, and business management conferences. Mr Häggblom is currently a director of United Bankers Oyj, Empower Oyj, and Häggblom & Partners Ltd Oy. Mr Häggblom has worked on numerous plantation and industrial projects in Latin America and worldwide. He has participated in several major M&A assignments in Brazil, Uruguay, Colombia and Argentina.
Independent Non-Executive Director
Mr Myles was a Partner in Ernst & Young from 2001 to 2007 and was responsible for the investment funds corporate advisory team. Previously he was with UBS Warburg, from 1987 to 2001. Mr Myles began his career in stockbroking in 1971 as an equity salesman and in 1975 joined Touche Ross & Co where he qualified as a chartered accountant. In 1978 he joined W Greenwell & Co. in the corporate broking team and in 1987 moved to SG Warburg Securities where he was involved in a wide range of commercial and industrial transactions in addition to leading Warburg’s corporate finance function for investment funds. He is a fellow of the Institute of Chartered Accountants in England and Wales and of the Chartered Securities Institute. He is currently a Non-Executive Director of Aberdeen Private Equity Fund Limited, Baker Steel Resources Trust Limited, Lazard World Trust Fund SICAF, Small Companies Dividend Trust PLC, JP Morgan Brazil Investment Trust plc, and BBGI SICAV S.A.
Independent Non-Executive Director
John D. Enlow, Sr., has been a member of Keweenaw Land Association Limited Board of Directors since 2019. He is currently Chairman of the Audit Committee, and is a member of both the Audit and the Nominating and Governance Committees. Mr. Enlow joined the Board of Directors of PRT Growing Services Limited in 2021, where he serves as Co-Chairman of the Operations Committee. He is a Principal of Forest Resource Advisors, Inc., an investment advisory firm he co-founded in 2018 to help institutional investors, endowments, sovereign wealth funds, and private equity groups unlock value and maximize returns from forest resource investments. Previously, he was employed by Deltic Timber Corporation as President and Chief Executive Officer, and member of its Board of Directors and Executive Committee from 2017 to 2018. Prior to that, Mr. Enlow served as Vice President of Southern Timberlands and Real Estate for Weyerhaeuser Company, from 2014 to 2016. Prior to that, Mr. Enlow was employed by Rayonier Inc., which he joined in 1997 and where he served as Region Director, Northern and Region Director, Atlantic from 2012 to 2014, and Region Director, Atlantic from 2007 to 2012. Mr. Enlow began his professional career at Union Camp Corporation, where he was employed from 1990 to 1997. Mr. Enlow received his B.S. in Forestry from Mississippi State University and his M.B.A. from Brenau University, as well as attending The Wharton School of the University of Pennsylvania Executive Education Program.
INVESTMENT MANAGER REPORTS
NEW RELEASES
Jul 14, 2023