TORONTO - Norbord Inc.'s (TSX: NBD, NBD.WT) President and Chief Executive Officer (CEO), Barrie Shineton, today announced his intention to retire at the end of January 2014. Mr. Shineton, who has served as President and CEO since 2004, will be appointed Vice Chair of the Board. In line with Norbord's succession plan, the Board of Directors has appointed Peter Wijnbergen, currently Senior Vice President and Chief Operating Officer (COO), to become President and CEO effective January 1, 2014.
Norbord Chair, Bob Harding said, "The Board would like to thank Barrie for his contributions over the past 10 years as CEO. He has served the business and its shareholders very well during this time, successfully leading Norbord through the most difficult period in the Company's history."
Mr. Harding continued, "The Board of Directors is pleased to announce the appointment of Peter Wijnbergen as our new President and CEO. Since being appointed COO in 2010, Peter has demonstrated his ability to lead the operations and has a deep understanding of the business from his long tenure with Norbord."
Retiring CEO, Barrie Shineton said, "The last 10 years, while challenging at times, have been the most satisfying years of my career and I am pleased to be leaving the Company in such a strong position today. I have the utmost confidence in Peter's ability to lead Norbord given his decades of experience in the OSB industry and with the Company. And I look forward to continuing to support Norbord in my new role as Vice Chair of the Board."
Mr. Wijnbergen was appointed COO on September 1, 2010. During his 26 years with Norbord, Mr. Wijnbergen has held senior leadership positions in operations, strategic planning and sales, marketing and logistics. He holds a Bachelor of Arts degree in Economics from the University of Toronto.
Norbord Inc. is an international producer of wood-based panels with assets of $1 billion, employing approximately 1,900 people at 13 plant locations in the United States, Europe and Canada. Norbord is one of the world's largest producers of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard (MDF) and related value-added products. Norbord is a publicly traded company listed on the Toronto Stock Exchange under the symbols NBD and NBD.WT.
Source Norbord Inc.
Have something to say? Share your thoughts with us in the comments below.