Canfor Pulp's President and CEO Nemeth to Step Down
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Canfor Pulp Products Inc. (CPPI), Vancouver, B.C., Canada, following its decision earlier this year to integrate the management of Canfor Corp. and the company (to maximize efficiency and cost synergies), reports that President and CEO Joe Nemeth has elected to step down from his role effective September 30. Nemeth offered to support the transition through that date.
Following Nemeth's decision, the company's board of directors appointed Canfor President and CEO Don Kayne to the role of CEO, a role he will serve for both companies. Brett Robinson, formerly EVP of Operations, will assume the president's function for the company.
Nemeth assumed leadership of Canfor Pulp in May 2010. Kayne noted that "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."
CPPI was established to hold an interest in Canfor Pulp Limited Partnership, which 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, B.C., and a marketing group located in Vancouver, B.C.
CPPI is the successor to Canfor Pulp Income Fund, following completion of a conversion on Jan. 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%.
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