TSX: WEF
Board has commenced search for new President
& CEO
VANCOUVER, BC, Feb. 1, 2022
/PRNewswire/ - Western Forest Products Inc. (TSX: WEF) ("Western"
or the "Company") announced today that its President & CEO
Don Demens has announced his
intention to retire by March 31,
2023.
The Board of Directors has commenced a search for a new
President & CEO. Mr. Demens will continue in his role as
President & CEO until his replacement has been found to ensure
a smooth transition and minimal disruption to Western's business
during this time. He will also remain a member of the Company's
Board of Directors until such time as the transition to his
successor occurs.
"I am proud of what we have accomplished at Western," said Mr.
Demens. "I am confident in the strength of Western's management
team and am fully committed to ensuring a smooth transition to a
new President & CEO who will continue to move Western forward
as a leading wood products company."
"On behalf of the Board, I want to thank Don for his significant
contributions to the Company over the past 13 years, including nine
as CEO," said Michael Waites, Chair
of the Board. "Don played a key role in transforming Western into a
leading specialty softwood supplier in North America and furthering the Company's
vital work around sustainability and First Nations reconciliation.
Don's vision and dedication have financially repositioned Western
which will help drive further growth and build long-term
shareholder value in the years ahead. We are grateful for his
continued commitment to providing leadership and support while we
undertake the important work of selecting the Company's next
President and CEO."
About Western Forest Products Inc.
Western is an integrated forest products company building a
margin-focused log and lumber business to compete successfully in
global softwood markets. With operations and employees located
primarily on the coast of British
Columbia and Washington
State, Western is a premier supplier of high-value,
specialty forest products to worldwide markets. Western has a
lumber capacity in excess of 1.0 billion board feet from seven
sawmills and four remanufacturing facilities. The Company sources
timber from its private lands, long-term licenses, First Nations
arrangements, and market purchases. Western supplements its
production through a wholesale program providing customers with a
comprehensive range of specialty products.
Forward-Looking Statements
This press release contains statements that may constitute
forward-looking statements under the applicable securities laws.
Readers are cautioned against placing undue reliance on
forward-looking statements. All statements herein, other than
statements of historical fact, may be forward-looking statements
and can be identified by the use of words such as "will", "may",
"intend", "ensure", "drive" and similar references to future
periods. Although such statements reflect management's current
reasonable beliefs, expectations and assumptions, there can be no
assurance that forward-looking statements are accurate, and actual
results or performance may materially vary. Many factors could
cause our actual results or performance to be materially different,
including a change in the Company's financial situation, general
economic conditions and other factors referenced under the "Risks
and Uncertainties" section of our MD&A in our 2020 Annual
Report dated February 18,
2021.
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SOURCE Western Forest Products Inc.