BURNABY, BC, June 3, 2020 /CNW/ - Taiga Building Products Ltd.
("Taiga" or the "Company") announced today that Russell Permann, currently Taiga's COO and EVP
Operations, will be appointed to the role of Co-CEO effective
January 1st, 2021.
In order to facilitate an orderly succession process, Trent Balog, Taiga's current CEO and President,
will step down from his present positions on December 31st, 2020 and serve as
Co-CEO alongside Mr. Permann. Mr. Balog has agreed to step
down from the Co-CEO position on December
31st, 2021 and remain involved with the Company
in a consulting role for a two year period thereafter. Effective
January 1st, 2022, Mr.
Permann will take over as Taiga's sole CEO.
Ian Tong, Chairman of Taiga
Building Products said "among his many accomplishments over his 26
year career at Taiga, Mr. Balog was instrumental in growing the
Company into a leading manufacturer and distributor of treated wood
products in Canada. As CEO, Mr. Balog has worked tirelessly
to prepare Taiga for its next phase of growth. He modernized
Taiga's IT infrastructure by supporting the implementation of new
Customer Relationship Management and Warehouse Management
systems. He grew the Company's presence in allied building
products like flooring and siding. He also led the Company
through its first major acquisition in over a decade, by acquiring
Exterior Wood Inc. in 2018. On behalf of the board of directors, I
would like to thank Mr. Balog for his enormous contributions to
Taiga's success. I am excited that Mr. Balog will remain with Taiga
until the end of 2023 to help mentor the next generation of Taiga
leadership."
Prior to Taiga, Mr. Permann spent 8 years at Jager Building
Systems Inc. When he left Jager, he was their Director of
Sales and Distribution - North America. He joined Taiga in
2008 as General Manager, Engineered Wood Products and gradually
took on greater responsibilities including overseeing Taiga's
business in the Prairies and the USA and managing the Envirofor plants.
Mr. Permann has a Bachelor of Arts in Political Science from the
University of Calgary and an MBA from
Athabasca University. Ian Tong
stated "Mr. Permann's extensive industry experience, coupled with
his outstanding interpersonal and communication skills and passion
for innovation will position Taiga for continued success in the
coming years."
Forward-Looking Information
This news release
contains 'forward-looking information'. Forward-looking information
is identified by the use of terms and phrases such as "anticipate",
"believe", "could", estimate", "expect", "intend", "may",
"plan", "predict", "potential", "project", "will", "would",
and similar terms and phrases, including references to
assumptions. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
results, performance or achievements to differ materially from
those indicated in the forward-looking information. Actual results
may differ materially from results indicated in forward-looking
information for a number of reasons, including a prolonged duration
of the COVID-19 outbreak and/or further restrictive measures to
contain its spread, the emergence of other epidemic diseases, the
evolving impact of COVID-19 on Taiga's customers and suppliers,
general economic conditions, as well as the risk factors identified
in Taiga's Annual Information Form dated February 21, 2020 and in Taiga's public
disclosure record available at www.sedar.com. Statements containing
forward-looking information in this news release represent Taiga's
expectations as of the date of this news release (or as of the date
they are otherwise stated to be made) and are subject to change
after such date. Taiga disclaims any intention or obligation to
update or revise such statements to reflect new information,
subsequent events or otherwise, unless required by applicable
securities laws.
SOURCE Taiga Building Products Ltd.