RICHMOND
, BC,
Jan. 25
/CNW/ - Catalyst Paper (TSX:CTL) today announced that
Richard Garneau
, the company's chief executive officer, will be leaving the company on
April 28, 2010
, following the company's annual meeting of shareholders.
Mr. Garneau
advised the Board of Directors today that for personal reasons he will be moving back to eastern
Canada
to be closer to his family.
"
Mr. Garneau
has been relentless in his drive to reduce Catalyst's costs and improve its profitability," said
Michel Desbiens
, chair of Catalyst's Board of directors. "On behalf of the Board I want to thank Richard for his contributions and express our regret at his departure. However, Richard has advised me that despite the personal concerns that are ultimately taking him back to Eastern
Canada
, he is committed to seeing our recently announced restructuring through to completion before he leaves."
A search for a successor will begin immediately.
Catalyst Paper manufactures diverse specialty printing papers, newsprint and pulp. Its customers include retailers, publishers and commercial printers in
North America
, Latin America, the Pacific Rim and
Europe
. With six mills located in British Columbia and Arizona, Catalyst has a combined annual production capacity of 2.5 million tonnes. The company is headquartered in
Richmond
, British Columbia,
Canada
and its common shares trade on the
Toronto
Stock Exchange under the symbol CTL. Catalyst is listed on the Jantzi Social Index(R) and is also ranked by Corporate Knights as one of the 50 Best Corporate Citizens in
Canada
.
For further information: Lyn Brown, Vice-President, Corporate Relations, (604) 247-4713
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