Domtar Corporation (ticker: UFS, exchange: New York Stock Exchange (.N))
News Release -
Domtar and Weyerhaeuser announce full board of Domtar Corporation
DTC (TSX, NYSE)
MONTREAL, Jan. 24 /PRNewswire-FirstCall/ - Domtar Inc. and Weyerhaeuser
Company announced today the 13-member board for the new company being formed
by the proposed combination of Domtar with Weyerhaeuser's fine paper and
related assets. The transaction, expected to close in the first quarter of
2007, will create the largest fine paper company in North America.
"I am delighted to welcome aboard this impressive group of talented and
knowledgeable individuals," stated Harold MacKay, non-executive Chair of the
new company, Domtar Corporation. "Their career experience, solid business and
financial backgrounds, and skills will be valuable assets to the new Domtar
board of directors," added MacKay.
The new board of directors will be comprised of:
Jack C. Bingleman, age 64, has been the president of Indian River Asset
Management Inc. since 2001. Previously he held a number of executive positions
with Staples Inc., including president of Staples International from 1997 to
2000. He has been a director of Domtar Inc. since 2005; he is also a director
of Tractor Supply Co.
Marvin D. Cooper, age 63, was the senior vice president, cellulose fiber,
white papers and containerboard manufacturing and engineering of Weyerhaeuser
Company from 2002 to 2006 when he stepped down to work full-time on the
transaction. Prior to joining Weyerhaeuser in 2002, he held a number of
executive positions with Willamette Industries, Inc., including executive vice
president, pulp and paper mills from 1998 to 2002.
Louis P. Gignac, age 56, has been a corporate director and consultant
since November 2006. Previously, he served as president and CEO of Cambior
Inc. since 1986. He has been a director of Domtar Inc. since 1995; he is also
a director of Gaz Metro Inc.
Brian M. Levitt, age 59, has been the chair of the board of Domtar Inc.
since 2004 and the co-chair of the law firm Osler, Hoskin & Harcourt LLP since
2001. Previously, he held a number of executive positions with Imasco Limited,
including president and chief executive officer from 1995 to 2000. Mr. Levitt
has been a director of Domtar since 1997; he is also a director of BCE Inc.
Harold H. MacKay, age 66, has served as Counsel to the law firm MacPherson
Leslie & Tyerman LLP in Regina, Saskatchewan since 2005. Prior to that, he was
a partner in MacPherson from 1969 to 2004. He also served as the Clifford
Clark policy advisor to the Department of Finance of Canada and chaired the
Task Force on the Future of the Canadian Financial Services Sector in 1997 and
1998. He is a director of The Toronto-Dominion Bank and The Mosaic Company.
Mr. MacKay is an Officer of the Order of Canada.
W. Henson Moore, age 67, has been until August 2006 president and CEO of
the American Forest & Paper Association since 1995. Previously, he served in a
number of senior U.S. government appointments and as a member of the U.S.
House of Representatives for the Sixth District of Louisiana. Mr. Moore is a
director of the United States Enrichment Corporation.
Michael R. Onustock, age 67, has retired as senior vice president, pulp
and white paper with Weyerhaeuser Company in 2004. Prior to joining
Weyerhaeuser in 2002, he held a number of executive positions in Willamette
Industries, Inc., including executive vice president, pulp and fine paper
marketing from 1989 to 2002. He is a director of the University of Washington
Pulp and Paper School Foundation.
Raymond Royer, age 68, has been the president, chief executive officer and
a director of Domtar Inc. since joining Domtar in 1996. He is also a director
of Power Financial Corporation and Shell Canada Limited. Mr. Royer is an
Officer of the Order of Canada, a Commander of the Order of Leopold II of
Belgium and an Officer of the Ordre national du Quebec.
Robert J. Steacy, age 56, has been a corporate director since May 2005.
Previously, he served as the senior financial officer of Torstar Corporation
since 1989, including as executive vice president and chief financial officer
from 2002 to 2005. He has been a director of Domtar Inc. since 2005; he is
also a director of Alliance Atlantis Communications Inc., Cineplex Galaxy
Income Fund, and Somerset Entertainment Income Fund.
William C. Stivers, age 68, has retired as executive vice president of
Weyerhaeuser Company in 2003, serving as chief financial officer from 1990 to
2003. Mr. Stivers is a former director of Factory Mutual Insurance Company and
a past member of Chase Manhattan Bank's National Advisory Board. He is a
director of Minerals Technologies Inc.
Pamela B. Strobel, age 54, has retired as executive vice president and
chief administrative officer of Exelon Corporation in 2005. During her tenure
with Exelon and its predecessor companies since 1993, she also served as
president of Exelon's Business Services Company and as chairman and CEO of
Exelon Energy Delivery, the holding company for Exelon's energy delivery
businesses. She is a director of Sabre Holdings Corporation and State Farm
Mutual Automobile Insurance Company.
Richard Tan, age 51, is the founder, president and CEO of Pacific
Millennium Holdings Corporation since 1977, an investment and operating group
involved over the years in various industries including pulp and paper, forest
plantation, information technology, and development and global joint ventures
Denis Turcotte, age 45, has been president and CEO of Algoma Steel Inc.
since 2002. Previously, he held a number of senior executive positions with
companies in the pulp and paper industry, including president of the Paper
Group and executive vice president of corporate development and strategy of
Tembec Inc. from 1999 to 2002.
DOMTAR IS THE THIRD LARGEST PRODUCER OF UNCOATED FREESHEET PAPER IN NORTH
AMERICA. IT IS ALSO A LEADING MANUFACTURER OF BUSINESS PAPERS, COMMERCIAL
PRINTING AND PUBLICATION PAPERS, AND TECHNICAL AND SPECIALTY PAPERS. DOMTAR
MANAGES ACCORDING TO INTERNATIONALLY RECOGNIZED STANDARDS 18 MILLION ACRES OF
FORESTLAND IN CANADA AND THE UNITED STATES, AND PRODUCES LUMBER AND OTHER WOOD
PRODUCTS. DOMTAR HAS 8,500 EMPLOYEES ACROSS NORTH AMERICA.
SOURCE DOMTAR INC.
/CONTACT: INVESTOR RELATIONS: Pascal Bosse, (514) 848-5938,
email@example.com; Kathryn McAuley, (253) 924-2058,
firstname.lastname@example.org; MEDIA RELATIONS: Christian Tardif, (514)
848-5515, email@example.com; Bruce Amundson, (253) 924-3047,
CO: DOMTAR INC.; WEYERHAEUSER COMPANY
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3454 01/24/2007 08:41 EST http://www.prnewswire.com