Richard Garneau, a member of the Board of Directors of AbitibiBowater and the former president and CEO of Catalyst Paper, will take over as president and CEO of AbitibiBowater on Jan. 1. David J. Paterson is stepping down from the position,…
Richard Garneau, a member of the Board of Directors of AbitibiBowater and the former president and CEO of Catalyst Paper, will take over as president and CEO of AbitibiBowater on Jan. 1. David J. Paterson is stepping down from the position, after having led the company through a far-reaching restructuring.
Paterson has agreed to stay on in an advisory role through July 31, 2011.
“AbitibiBowater is a company with a long history, skilled and dedicated employees, and a determination to succeed as a profitable and sustainable enterprise,” said Garneau. “Dave Paterson and his team have laid the foundation for a future success story, and I’m excited for the opportunity to help write its next chapter.”
Garneau joined AbitibiBowater as a member of the Board of Directors in June 2010. He served as president and CEO of Catalyst Paper Corporation from March 2007 to May 2010. Prior to his tenure at Catalyst, he held a variety of roles in the forest products industry.
Paterson stated that the foundations for AbitibiBowater’s success are in place, and that he will step down to spend more time with his family.
“There is no doubt that Dave Paterson was the right person at the right time for AbitibiBowater,” said Richard Evans, chair of AbitibiBowater. “He set an example through his dedication and hard work. He gave us a new vision and a drive to succeed, and motivated everyone to believe in our future. AbitibiBowater today is a testament to his commitment, and the Board and employees of the company are extremely grateful to him for his decisive leadership.”
AbitibiBowater produces a diverse range of products, including newsprint, commercial printing and packaging papers, market pulp and wood products. The company owns or operates 18 pulp and paper mills and 24 wood products facilities located in the United States, Canada and South Korea.
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