MONTRÉAL, Sept. 13, 2021 /CNW
Telbec/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP)
today announced that the board of directors appointed, effective
today, Duncan K. Davies as an
additional member of the company's board, and that Mr. Davies will
succeed Bradley P. Martin as the
company's non-executive chairman. Mr. Martin of Fairfax Financial
Holdings Limited will continue to serve as vice chairman of
Resolute's now eight-member board.
"Duncan has outstanding credentials and a proven track record
of success in the North American forest products industry,"
said Remi G. Lalonde, president and
chief executive officer. "We have identified wood products as a
key pillar of our transformation strategy, and bringing Duncan's
deep knowledge of the industry on board is an excellent step in
that direction to complement our existing board and strategy. I
want to also express our gratitude to Brad for his leadership and
guidance as chairman for the last nine years. I'm delighted that
Brad will continue to contribute to our success in his new role as
vice chairman."
Mr. Davies was president and chief executive officer of Interfor
Corporation (TSX) for nearly 20 years until he stepped down in
2019, and served most recently as chief executive officer of
Pinnacle Renewable Energy Inc. (TSX). He also served as an officer
of two other integrated forest products companies, and as an
investment banker, specializing in forest products activities. Mr.
Davies is currently vice chair of the Binational Softwood Lumber
Council and has served on the Softwood Lumber Board, BC Lumber
Trade Council and Canadian Lumber Trade Alliance, where he was
involved in industry-wide promotion and trade-related matters
involving softwood lumber.
"I'm excited to join the board at this important time for
Resolute," said Mr. Davies. "I look forward to working with
my board colleagues and with Remi and his team to generate value
for the company and its stakeholders."
"We are pleased for Duncan to join and to lead Resolute's
board," said Alain Rhéaume, lead director and chair of the
human resources and compensation/nominating and governance
committee. "We are fortunate to have an industry champion with
his range of skills and knowledge as well as depth of
experience."
On the basis of information obtained from Mr. Davies, and upon
the advice and recommendation of the human resources and
compensation/nominating and governance committee, the board has
determined that Mr. Davies is independent, as defined in the NYSE's
corporate governance standards and the company's by-laws.
Accordingly, going forward, Mr. Rhéaume will cease to serve as lead
director to sit as a regular director.
Cautionary Statements Regarding Forward-Looking
Information
Statements in this press release that are not
reported financial results or other historical information of
Resolute Forest Products Inc. ("Resolute" or "we")
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. They include, for
example, statements relating to our strategies for achieving our
goals generally. Forward-looking statements may be identified by
the use of forward-looking terminology such as the words "should,"
"would," "could," "will," "may," "believe," "see," "look,"
"generate," "continue," and other terms with similar meaning
indicating possible future events or potential impact on Resolute's
business or its shareholders.
The reader is cautioned not to place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. These statements are based on management's current
assumptions, beliefs, and expectations, all of which involve a
number of business risks and uncertainties that could cause actual
performance to differ materially. The potential risks and
uncertainties that could cause Resolute's actual future financial
condition, results of operations and performance to differ
materially from those expressed or implied in this press release
include, but are not limited to, the potential risks and
uncertainties set forth under Part I, Item 1A, "Risk Factors," of
Resolute's annual report on Form 10-K for the year ended
December 31, 2020, filed with the
U.S. Securities and Exchange Commission (or, the "SEC") on
March 1, 2021, which have been
heightened by the COVID-19 pandemic, including related governmental
responses and economic impacts, market disruptions and resulting
changes in consumer habits.
All forward-looking statements are expressly qualified by the
cautionary statements contained or referred above and in Resolute's
other filings with the SEC and the Canadian securities regulatory
authorities. Resolute disclaims any obligation to publicly update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
law.
About Resolute Forest Products
Resolute Forest
Products is a global leader in the forest products industry with a
diverse range of products, including market pulp, tissue, wood
products and papers, which are marketed in over 50 countries. The
company owns or operates some 40 facilities, as well as power
generation assets, in the United
States and Canada. Resolute
has third-party certified 100% of its managed woodlands to
internationally recognized sustainable forest management standards.
The shares of Resolute Forest Products trade under the stock symbol
RFP on both the New York Stock Exchange and the Toronto Stock
Exchange.
Resolute has received regional, North American and global
recognition for its leadership in corporate social responsibility
and sustainable development, as well as for its business practices.
Visit www.resolutefp.com for more information.
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SOURCE Resolute Forest Products Inc.