Western forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets
VANCOUVER, BC, March 5, 2021 Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today that Mr. James Arthurs and Mr. Lee Doney will not be standing for re-election as directors at Western’s Annual and Special Meeting on May 6, 2021, and that Mr. Randy Krotowski and Mr. John Williamson have been appointed as independent directors to Western’s Board of Directors (the “Board”).
Mr. Arthurs and Mr. Doney have been members of the Board since July 2004. The changes announced today are consistent with Western’s ongoing Board renewal and succession process and demonstrates Western’s commitment to strong corporate governance practices. With the appointment of Mr. Krotowski and Mr. Williamson, four new members will have joined Western’s Board in the past two years.
“On behalf of the Board, I would like to thank Mr. Arthurs and Mr. Doney for the dedication and significant contributions they brought to the Board over the last 16 years”, said Mr. Michael Waites, Chairman of Western. “I am pleased to welcome Mr. Krotowski and Mr. Williamson to the Board. Their extensive skill sets and expertise will further complement our current Board members, and we are confident they will provide valuable perspectives as we continue to execute on our strategy, drive growth and build long-term shareholder value.”
Mr. Krotowski has held the position of Vice President and Chief Information Officer at Caterpillar and Chief Information Officer at Chevron’s Global Exploration and Production business. He previously held various senior management positions with Chevron Corporation and has served as an advisor to several Silicon Valley technology companies. Mr. Krotowski has extensive experience in digital strategy development and transformation execution, operations management and supply chain optimization. He has a Bachelor of Applied Science in Chemical Engineering from the University of Toronto and an MBA from Golden Gate University.
Mr. Williamson is the past President and CEO of Atkore International Group Inc. He previously held various senior executive positions at ITT Corporation and Danaher Corporation. Mr. Williamson brings 30 years’ experience in manufacturing operations and has extensive expertise in the building products segment, acquisitions and international business. He has a Bachelor of Arts in Business from the California State University Fullerton.
The Board regularly evaluates its composition and tenure of Board members. As part of the process in considering new Board members, the Board carefully considers a diverse and broad range of skills, experience and perspectives to best meet the needs of the Company and support the Company’s strategy.
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 1.1 billion board feet from eight 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.
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 references to future periods. Forward-looking statements in this press release include, but are not limited to, statements relating to the appointment of directors to the Board. 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 factors referenced under the “Risks and Uncertainties” section of our MD&A in our 2020 Annual Report dated February 18, 2021.
By PR Newswire