Western Forest Products Appoints Steven Hofer as President & CEO

VANCOUVER, British Columbia, July 28, 2022 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today that it has appointed Steven Hofer as its President and CEO and a member of the Company’s Board of Directors (“Board”), effective September 7, 2022. Mr. Hofer succeeds Don Demens, who will remain at Western in an advisory capacity until March 31, 2023 to ensure a seamless transition. Mr. Demens will step down from the Board effective September 7, 2022.

Mr. Hofer joins Western from BID Group, a global leader in wood processing technologies and solutions. At BID Group Mr. Hofer was responsible for creating and leading its key strategic initiatives, including BID’s digital technology strategy to drive revenue growth and market, product and geographic diversification. Mr. Hofer started his career in the BC Coastal forest products sector and has deep and expansive industry experience.

“Steven brings a wealth of industry knowledge and has the vision, leadership skills and commitment to sustainability to guide Western’s execution of its strategic plan and drive disciplined, long-term shareholder value,” said Michael Waites, Chair of the Board. “Steven embodies Western’s core values, and his holistic approach to the business equips him to continue working with our partners to strengthen our business.”

“Western is a leader, not just in supplying specialty building materials, but in sustainably managing forests, advancing reconciliation and making important contributions to British Columbia,” said Mr. Hofer. “It is an honour to be at the helm of this company, and to be returning to BC. Don and his team have built a strong foundation and achieved significant transformational growth at Western. I look forward to working to capitalize on the significant opportunities ahead for the Company.”

Mr. Hofer has more than 25 years of leadership experience in the forest products industry with proven, long-lasting results identifying opportunities for innovation and building strategic partnerships. Mr. Hofer most recently served as Executive Vice President, Strategy and Business Development, of BID Group. Prior to joining BID Group, Mr. Hofer held leadership positions with Interfor Corporation for 12 years, including serving as Interfor’s Senior Vice President, Northwest Operations and Senior Vice President, Sales and Marketing.

The Board wishes to thank Mr. Demens for his significant contributions to Western over the past 13 years, including nine as CEO. Mr. Demens joined Western in 2009 and served in a number of strategic roles before being appointed President & CEO in 2013. Mr. Demens led the strategic transformation of Western into a premier wood products company, championed safety in the workplace, built mutually beneficial relationships with First Nation partners, and accelerated the Company’s industry-leading sustainability work.

“Don’s unwavering leadership has been invaluable to Western’s growth and success,” said Mr. Waites. “His work fostering a culture of accountability and continuous improvement, recognizing safety as key priority in building long-term business success, and forging open and meaningful relationships with Indigenous groups has created a strong foundation for Western’s continued success. We wish him the best in his retirement.”

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.0 billion board feet from seven sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

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Forward-looking Statements

This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. All statements herein, other than statements of historical fact, may be forward-looking statements and can be identified by the use of words such as “will”, “continue” and similar references to future periods. Although such statements reflect management’s current reasonable beliefs, expectations and assumptions, there can be no assurance that forward-looking statements are accurate, and actual results or performance may materially vary. Many factors could cause our actual results or performance to be materially different, including a change in the Company’s financial situation, economic and financial conditions, international and domestic demand for forest products, changes in opportunities, and other factors referenced under the “Risks and Uncertainties” section of our MD&A in our 2021 Annual Report dated February 16, 2022.