Mercer International Inc. Announces Resignation of Its CFO, David Ure, and Promotion of Richard Short to CFO
February 27 2023 - 6:00PM
Mercer International Inc. ("Mercer" or the "Company") (Nasdaq:
MERC) today announced that David Ure, who has served as CFO and
Secretary since 2015, will be leaving the Company effective June 1,
2023.
Mercer has promoted its Vice President,
Controller, Richard Short to succeed Mr. Ure as Chief Financial
Officer and Secretary.
Mr. Ure will step down from his current
executive duties after more than seven years as CFO and over 17
years in all with the Company. Mr. Ure will continue as an advisor
until the end of August 2023 to assist Mr. Short and Mercer to
facilitate a smooth transition.
Juan Carlos Bueno, Chief Executive Officer,
said, "On behalf of the full Board, I would like to thank Dave for
his many years of leadership and tireless service to Mercer as CFO
and previously as Vice President, Finance. He has been a key leader
of Mercer's finance team and integral part of our growth. We
sincerely appreciate David's contributions and his support through
the transition process and wish him all the best going
forward."
Mr. Ure stated, "I have served in executive
leadership at Mercer for over 17 years. I feel this is the right
time for me to step away. I have been proud and fortunate to work
with an outstanding and dedicated Mercer team. As a leading global
forest products company, Mercer is well-positioned to leverage its
world class operations and strategic position to enhance value for
all of its stakeholders. I also want to thank our Board of
Directors, shareholders and other stakeholders for their continual
support. I'm confident that Richard will be an excellent CFO for
Mercer."
Mr. Short said, "I am honored to continue with
Mercer in my new position as CFO and look forward to continuing to
work with my talented colleagues to enhance the success of the
Company."
Mr. Short, 55, has extensive
experience and a proven track record in finance, accounting and the
forest products industry over a 30-year career. He most recently
served from 2014 to the present date as Mercer's Vice
President, Controller. Prior to that, from 2006 to 2014, he
served in a number of positions with the Company, including as
Director, Corporate Finance and Controller, Financial Reporting.
Previously he served as Director, Corporate Finance with Catalyst
Paper Corporation and Assistant Controller at The Alderwoods Group
Inc.
Mr. Short holds a Bachelor of Arts in Psychology
from the University of British Columbia and has been a member of
the Chartered Professional Accountants of Canada since 1993.
Mercer International Inc. is a global forest
products company with operations in Germany, USA and Canada with
consolidated annual production capacity of 2.3 million tonnes of
pulp, 550 million board feet of lumber and 140 thousand cubic
meters of cross-laminated timber. To obtain further information on
the company, please visit its web site at
https://www.mercerint.com.
The preceding includes forward looking
statements which involve known and unknown risks and uncertainties
which may cause our actual results in future periods to differ
materially from forecasted results. Words such as "expects",
"anticipates", "are optimistic that", "projects", "intends",
"designed", "will", "believes", "estimates", "may", "could" and
variations of such words and similar expressions are intended to
identify such forward-looking statements. Among those factors which
could cause actual results to differ materially are the following:
the highly cyclical nature of our business, raw material costs, our
level of indebtedness, competition, foreign exchange and interest
rate fluctuations, our use of derivatives, expenditures for capital
projects, environmental regulation and compliance, disruptions to
our production, market conditions and other risk factors listed
from time to time in our SEC reports.
APPROVED BY:Jimmy S.H. LeeExecutive Chairman(604) 684-1099
Juan Carlos BuenoChief Executive Officer(604) 684-1099
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