GreenFirst CEO Rick Doman Retires

GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst”) announces the retirement of its Chief Executive Officer, Rick Doman, for personal reasons effective December 31, 2022.

GreenFirst’s Chairman, Paul Rivett, has temporarily assumed the role of Executive Chair and interim CEO in order to ensure the focus of the company during this transition, including continuing the progress of initiatives that are underway and beginning the search for a new executive to replace the retiring Mr.Doman. Mr. Doman will continue as a Director of GreenFirst, and Marty Proctor has become Lead Independent Director.

“We all thank Rick for his tireless service to GreenFirst and we wish him well with his future endeavours. The company would not exist without his early vision.” said Paul Rivett.

Mr. Rivett continued, “In a few short years, during a pandemic, we built a strong foundation for GreenFirst’s future growth, including strengthening our team, focussing on capital and optimizing operations.”

“This has been a difficult decision as I leave behind a strong team of talented employees. I would like to thank everyone for their hard work and dedication to this great company. GreenFirst is well positioned for a successful future.” said Rick Doman
https://greenfirst.ca/2023/01/03/

Related Posts

Orchids Paper Products Company Receives Lender Consent For Amendment Of Credit Agreements

On June 30, 2017, Orchids Paper Products Company entered into Amendment No. 5 to its Second Amended and Restated Credit Agreement dated June 25, 2015 by and among the Company, U.S. Bank National Association and the other lenders party thereto. The Credit Agreement Amendment, among other things, struck the fixed charge coverage for the period ended June 30, 2017, thereby also waiving a requirement for a Cash Reserve, as defined in the Credit Agreement, to be funded by that date. Covenants for future periods remain unchanged from the prior amendment. Additionally, the Company agreed not to make any dividend or other distribution payment with respect to its equity unless the Company has achieved a Leverage Ratio of less than 4.0:1.0 for two consecutive fiscal quarters and no Default or Event of Default (as defined in the Credit Agreement) exists or would exist following such payment. The amount and timing of dividend payments otherwise remains subject to the judgment and approval of the Board of Directors. Click Read More below for additional detail.

Kruger Announces a $377.6-M Transaction to Diversify Two of its Québec Paper Mills into Specialty Niches

Kruger Inc. is announcing today a $377.6-M transaction to diversify operations at its Brompton and Wayagamack Mills into specialty niches, such as flexible food packaging, labelling and digital printing. This major project, undertaken in partnership with the Government of Québec, will help to maintain more than 500 jobs in the Mauricie and Estrie regions. The announcement was made today in the presence of Philippe Couillard, Premier of Québec; Dominique Anglade, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy; and Joseph Kruger II, Chairman and Chief Executive Officer of Kruger, as well as Ministers Luc Blanchette, Julie Boulet, and Luc Fortin. Kruger and the Government of Québec have formed a partnership by which Investissement Québec, acting as the government's agent, will grant loans and a loan guarantee totalling $59.8 million and acquire an equity participation of 37.5%, or $44.6 million, in the new entity Kruger Specialty Papers Holding L.P. The new entity comprises the assets of the Brompton and Wayagamack Mills, as well as the Biomass Cogeneration Plant adjacent to the Brompton Mill. Click Read More below for additional detail.

Canadian Forest Industry Welcomes Start of Trade Deal With Europe

Forest Products Association of Canada (FPAC) today expressed its support for the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union for commencing its provisional application. This agreement will immediately result in the elimination of quotas and tariffs of up to 10% on Canadian exports of wood-based panels and other wood products to the European Union. “We welcome the provisional application of the agreement, as a start to freer trade within the area,” CEO of FPAC, Derek Nighbor. “The prosperity of the forest products industry relies on strong exports, which CETA will help support.” Last year the Canadian forest sector exported more than $1 billion of wood, pulp and paper products to the EU member states. This is 3% of total exports of Canadian forest products making Europe the 4th largest international market for the sector. The largest importers of Canadian forest products in Europe are the United Kingdom followed by Germany, Italy, the Netherlands and Belgium. Click Read More below for additional detail.
Back To Top
×Close search
Search