September 28, 2023 [VARO]- VARO Energy Group (“VARO”) today announces the appointment of Swetlana Iodko Schoordijk as Vice President of Investor Relations and Communications. In the newly created role, Swetlana will oversee VARO’s financial and investor communications as well as communications to external and internal stakeholders. She will take up the position from the 1 October 2023.

In July this year VARO raised US$3.3 billion from a syndicate of 15 lending banks, including US$831 million in new finance. In addition to managing VARO’s relationships with its lenders, Swetlana will play an important role in identifying additional pools of capital to support VARO’s US$3.5 billion investment programme between 2022-26.

Swetlana joins VARO from Holcim, the world’s largest cement company, where she was most recently the Head of Investor Relations. Previously she served in a number of senior positions at Holcim in Investor Relations and Strategy. Swetlana started her career at E&Y.

Dev Sanyal, CEO of VARO, commented: “I am delighted to welcome Swetlana to VARO in the newly created position of VP Investor Relations and Communications. Swetlana brings a wealth of experience and understanding of the capital markets to VARO that will be invaluable as we look to raise fresh capital to invest into delivering the ONE VARO Transformation strategy and move to the next phase of our growth.”

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