Chief executive of NFW steps down
Just days after missing out on an award of £1 million from The Earthshot Prize, material innovation company NFW confirmed that its founder, Dr Luke Haverhals, had stepped down as chief executive.
Luke Haverhals founded NFW as Natural Fiber Welding in 2015 with the aim of using natural-based materials to replace fossil-based plastics in as many applications as possible, including clothing and footwear.
The company was named as a finalist in the 2024 edition of The Earthshot Prize. Led by the heir to the throne of the United Kingdom, Prince William, The Earthshot Prize will run for the whole of this decade, awarding each year funding of £1 million to winners in each of five categories.
At the 2024 final in Cape Town on November 6, NFW narrowly missed out on the prize in a category called ‘Build A Waste-Free World’.
In the days that followed, local radio in Peoria, Illinois, where NFW has its headquarters, reported that Dr Haverhals had stepped down as chief executive “for personal reasons”. He remains on the company’s board.
Radio reports also said that NFW was putting a significant number of employees on furlough (temporarily suspending their paid employment). A company spokesperson said NFW had been unable to close new funding that it had been working to secure for months.
Former company president, Steve Zika, has confirmed on LinkedIn that he has taken over as chief executive. He said: “Our team will do everything we can to secure additional funding, and we will keep our employees informed.”
Image: The Earthshot Prize.
