SEATTLE, Aug. 27, 2018 /PRNewswire/ -- Weyerhaeuser
Company (NYSE: WY) today announced that Doyle R. Simons has elected to retire, and its
board of directors has appointed Devin W. Stockfish as president
and chief executive officer, effective Jan.
1, 2019. Stockfish, currently senior vice president of the
company's Timberlands business, will join the company's board of
directors on Jan. 1, 2019, at which
point Simons will step down from the board and become senior
advisor until his retirement on Apr. 1,
2019.
"In anticipation of this planned transition, the board conducted
an extensive succession process and unanimously determined that
Devin is the right leader to take this company to the next level,"
said Rick R. Holley, chairman of
Weyerhaeuser's board of directors. "Devin has a proven ability to
achieve results and an impressive breadth of experience that spans
various industries. We are excited about the energy and vision he
will bring to this role as we continue to focus on industry-leading
performance and disciplined capital allocation."
"During his tenure as CEO, Doyle has done an outstanding job of
focusing the business portfolio, driving improved performance,
allocating capital, growing the company and building a strong
leadership bench," Holley continued. "On behalf of the board, I
thank Doyle for his tremendous leadership and accomplishments, and
wish him all the best in his well-deserved retirement.
"It's been an honor to lead this company for the last five
years, and I'm proud of the progress we made in positioning
Weyerhaeuser for continued value creation with a streamlined
portfolio, improved operational and financial performance and an
incredibly talented leadership team," said Simons. "Building the
next generation of leaders has been a key priority during my tenure
as CEO and the Board and I are confident Weyerhaeuser will continue
to thrive under Devin's leadership. He is a focused, disciplined
and respected leader who has demonstrated great judgment, a
commitment to delivering results through operational excellence and
a passion for developing people. Our shareholders and employees
will benefit from his vision and expertise."
Stockfish said: "It's an absolute privilege to become
Weyerhaeuser's next president and chief executive officer. We have
a world-class team of talented employees who are working every day
to build on our momentum as the industry leader. By maintaining our
focus on operational excellence and disciplined capital allocation,
we will continue to drive shareholder value and ultimately achieve
our vision to be the world's premier timber, land, and forest
products company. I also want to thank Doyle for his tremendous
leadership and contributions to Weyerhaeuser, as well as his
willingness to continue as a senior advisor in early 2019 to ensure
a smooth and successful transition."
As part of the leadership succession plan, the board of
directors also announced the following appointments:
- Adrian Blocker will succeed
Stockfish as senior vice president of Timberlands, effective
Jan. 1, 2019. Blocker currently leads
the company's Wood Products business.
- Keith O'Rear will succeed
Blocker as senior vice president of Wood Products, also effective
Jan. 1, 2019. O'Rear currently leads
the company's Wood Products Sales and Marketing organization.
"Adrian is one of the most focused, disciplined leaders I've
ever worked with," said Simons. "His broad timberlands and
manufacturing experience and relentless focus on operational
excellence are going to be a tremendous asset to our Timberlands
business. Keith brings more than 30 years of manufacturing
experience and expertise to this critical role and has been a key
member of the Wood Products leadership team alongside Adrian for
many years. Keith's energy, operational expertise and direct
customer experience uniquely position him to drive next-level
performance in our Wood Products business."
About Devin Stockfish
Devin W. Stockfish has been
Senior Vice President, Timberlands, since Jan. 1, 2018. Previously, he served as the
company's Senior Vice President, General Counsel and Corporate
Secretary, and as Vice President, Western Timberlands. Before
joining Weyerhaeuser, he was Vice President & Associate General
Counsel at Univar Inc., where he focused on mergers and
acquisitions, corporate governance and securities law. Previously,
he was an attorney in the law department at Starbucks Corporation
and practiced corporate law at K&L Gates LLP. Before he began
practicing law, he was an engineer with the Boeing Company. He
received his Doctor of Jurisprudence degree from Columbia University School of Law and holds a
Bachelor of Science degree in mechanical engineering from the
University of Colorado.
About Adrian
Blocker
Adrian M.
Blocker has been Senior Vice President, Wood Products, since
Jan. 1, 2015. Prior to that, he was
Senior Vice President, Lumber, from 2013 to 2014. Earlier in his
career, Blocker held numerous leadership positions at West Fraser, International Paper, and Champion
International focused on wood products manufacturing, forest
management, fiber procurement, consumer packaging, strategic
planning, and business development. He holds an MBA and Bachelor of
Science degrees in Business and Forestry from Mississippi State University.
About Keith
O'Rear
Keith O'Rear
has been Vice President, Wood Products Sales and Marketing, since
Jan. 1, 2018. Previously, he was Vice
President of Wood Products Manufacturing for the company's
Mid-South region from 2014 to 2017. O'Rear led the company's
Timberlands operations in Oklahoma
and Arkansas from 2013-2014, and
prior to that he held various manufacturing leadership roles at the
company's lumber mills in Dierks,
Arkansas, and Idabel,
Oklahoma. He also led a variety of initiatives for the
company in the areas of safety, reliability, strategic planning and
large capital projects. O'Rear joined Weyerhaeuser in 1989. He
holds a Bachelor of Business Administration degree from
Texas A&M University – Texarkana.
About Doyle R.
Simons
Doyle R. Simons
has been President and Chief Executive Officer of Weyerhaeuser
since Aug. 1, 2013, and a member of
the board since June 2012. Prior to
that, he served as Chairman and Chief Executive Officer of
Temple-Inland, Inc., from 2008 to February
2012 when it was acquired by International Paper.
Previously, he held various leadership positions within
Temple-Inland. He currently serves on the board of directors for
Fiserv Inc. Simons holds a Bachelor of Business Administration from
Baylor University and a Doctor of
Jurisprudence from the University of Texas at
Austin.
About Weyerhaeuser
Weyerhaeuser Company, one of the
world's largest private owners of timberlands, began operations in
1900. We own or control 12.4 million acres of timberlands in the
U.S. and manage additional timberlands under long-term licenses in
Canada. We manage these
timberlands on a sustainable basis in compliance with
internationally recognized forestry standards. We are also one of
the largest manufacturers of wood products. Our company is a real
estate investment trust. In February
2016, we merged with Plum Creek Timber Company, Inc. In
2017, we generated $7.2 billion in
net sales and employed approximately 9,300 people who serve
customers worldwide. We are listed on the North American and World
Dow Jones Sustainability Indices. Our common stock trades on the
New York Stock Exchange under the symbol WY. Learn more at
www.weyerhaeuser.com.
Forward Looking Statements
This news release contains
statements concerning the company's future results and performance
that are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
are based on our current expectations and various assumptions that
are subject to risks and uncertainties, including without
limitation those described from time to time in our filings with
the Securities and Exchange Commission, which may cause actual
results to differ significantly from these forward-looking
statements. There is no guarantee that any of the events
anticipated by these forward-looking statements will occur. If any
of the risks materialize or if any of our assumptions proves to be
inaccurate, our expectations may not be realized, and there is no
guarantee what, if any, effect such risks or inaccurate assumptions
will have on our results of operations, cash flow or financial
condition. Unless otherwise indicated, all forward-looking
statements are as of the date they are made, and we undertake no
obligation to update these forward-looking statements, whether as a
result of new information, the occurrence of future events or
otherwise.
For more information contact:
Analysts –
Beth Baum, 206-539-3907
Financial Media – Andrew
Siegel, 212-355-4449
Regional Media – Nancy
Thompson, 919-760-3484
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SOURCE Weyerhaeuser Company