Western Forest Products Inc. Announces Appointment of New Director
TSX: WEF
VANCOUVER, BC, March 1, 2022 /PRNewswire/ - Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") announced today that Ms. Fiona Macfarlane has been appointed as an independent director to Western's Board of Directors (the "Board"). With the appointment of Ms. Macfarlane, five new members will have joined Western's Board in the past three years, which is consistent with Western's ongoing Board renewal and succession process and demonstrates Western's commitment to strong corporate governance practices.
"I am pleased to welcome Ms. Macfarlane to the Board", said Mr. Michael Waites, Chairman of Western. "Her extensive skill set and expertise will further complement our current Board members, and we are confident she will provide valuable perspectives as we continue to execute on our strategy, drive growth and build long-term shareholder value."
Ms. Macfarlane was previously the Managing Partner, British Columbia and Canada's Chief Inclusiveness Officer at Ernst & Young (EY). She also led the EY Canada Tax practice and served as COO of the Americas' Tax practice. Ms. Macfarlane has extensive experience in government relations, legal, finance, tax and accounting, as well as has been a champion on diversity, equity and inclusion. Ms. Macfarlane holds the ICD.D designation granted by the Institute of Corporate Directors and for her contributions to the CPA profession, she was awarded an honorary CPA, CA. Ms. Macfarlane holds a Bachelor of Laws and Bachelor of Commerce from the University of Cape Town and a Masters of Laws from Cambridge University.
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, in alignment with the Company's Diversity, Equity and Inclusion Policy, 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 1.0 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 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 2021 Annual Report dated February 16, 2022.
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SOURCE Western Forest Products Inc.
