VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 2, 2012) - Canfor Pulp Products Inc. (TSX:CFX) -
Following the decision earlier this year to integrate the management of Canfor Corporation and the Company in order to maximize efficiency and cost synergies, Company President and CEO Joe Nemeth has elected to step down from his role effective September 30, 2012. He has graciously offered to support the transition through that date.
Following Joe's decision, the Board of Directors of the Company appointed Canfor President and CEO Don Kayne to the role of CEO; a role he will serve for both companies. Brett Robinson, formerly Executive Vice President, Operations, will assume the President function for the Company.
Joe Nemeth assumed leadership of Canfor Pulp in May 2010, and the company appreciates his many achievements since that time. Don Kayne President and CEO of Canfor said "Joe has been an instrumental part in leading the Company through successive profitable quarters and has put together a great team. His leadership and guidance will be missed."
About Canfor Pulp Products Inc.
Canfor Pulp Products Inc (CPPI) was established to hold an interest in Canfor Pulp Limited Partnership (the Partnership). The Partnership produces and sells Northern Bleached Softwood Kraft (NBSK) Pulp and fully bleached, high performance Kraft Paper. The Partnership operates two NBSK pulp mills and one NBSK pulp and paper mill in Prince George, British Columbia and a marketing group located in Vancouver, British Columbia.
CPPI is the successor to Canfor Pulp Income Fund (the Fund) following completion of a conversion on January 1, 2011. Upon completion of the conversion and subsequent winding up of the Fund, CPPI became the direct holder of a 49.8% interest in the Partnership. On March 2, 2012, CPPI increased its Partnership interest to 100%.
For more information about CPPI and the Partnership, please visit www.canforpulp.com.