Western Forest Products Announces Board of Directors Leadership Transition
February 12, 2019 at 09:21 pm EST
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Western Forest Products Inc. announced the implementation of its planned Board of Directors leadership transition, including changes to Chair roles of the Board, Audit Committee and Environmental, Health and Safety Committee. Michael Waites has been appointed as Chair of the Board and has concurrently stepped down as Vice-Chair of the Audit Committee and Chair of the Environmental, Health and Safety Committee. Mr. Waites will continue to serve as an independent member of each of the Company’s Board committees. As a result of the appointment of Mr. Waites’ as an independent Chair, the Board has combined the positions of Chair of the Board and Independent Lead Director. Lee Doney has been appointed as Chair of the Environmental, Health and Safety Committee and has stepped down from the Chair of the Board position that he has held since February 2014. Mr. Doney has served as a director of the Company since July 2004. He was appointed Vice-Chairman of the Board in November 2008. Jim Arthurs has stepped down as Chair of the Audit Committee and continues to serve as an independent member of the Company’s Audit Committee, Environmental, Health and Safety Committee, and Nominating and Corporate Governance Committee. Mr. Arthurs has served as a director of the Company since July 2004. Daniel Nocente has been appointed as Chair of the Audit Committee and continues to serve as an independent member of the Company’s Nominating and Corporate Governance Committee, and Chair of the Management Resources and Compensation Committee. Mr. Nocente has served as a director of the Company since May 2014. The Board leadership transition plan was recommended by the Company’s Nominating and Corporate Governance Committee working in conjunction with the Chair of the Board and reinforces Western’s commitment to corporate governance best practices. In addition, the Nominating and Corporate Governance Committee has engaged an executive search firm to assist in identifying director candidates with complementary skills and experiences in support of the Company’s ongoing Board succession plan.
Western Forest Products Inc. is an integrated softwood forest products company. The Companyâs primary business is the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing and wholesaling purchased lumber. Its product categories include Outdoor Living, Exterior Appearance, Interior Living, LIFESTYLE CEDAR, WFP Engineered Products and others. The Outdoor Living products include decking, timbers, outdoor structures and fencing products. The Exterior Appearance products include siding, trim and fascia, soffits, and door and window products. The LIFESTYLE CEDAR products include LIFESTYLE CEDAR Decking and LIFESTYLE CEDAR Fencing. The Interior Living products include interior paneling, interior moldings, architectural millwork, and stair components. The WFP Engineered Products include Curved and Arched Glulam, Straight Glulam, Fabricated Trusses, Calvert GL3000 and Other Glulam Products.