Canfor Corporation

Canfor Corporation

February 11, 2011 17:21 ET

Canfor Corporation: CEO to Retire at AGM/New CEO Appointed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2011) - Canfor Corporation (TSX:CFP) announced today James F. Shepard, President and CEO of the Company has decided to retire at the Company's next annual general meeting of shareholders, currently scheduled for May 5, 2011.

Ronald Cliff, Chairman of the Board said: "Jim has decided to return to retirement after four years as President and CEO of the Company. During that time he has lead the Company through extremely difficult economic times and leaves the Company in a strong financial position. The entire Board is appreciative of Jim's contribution, leadership and guidance."

Mr. Don Kayne has been appointed by the Board of Directors to replace Mr. Shepard as President and CEO following the annual general meeting of shareholders. Mr. Kayne has been with the Company for over 32 years and has held various positions within the Company. Mr. Kayne is currently the Vice President of Wood Products Marketing and Sales.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.

Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with interests in BC, Alberta, Quebec, Washington state, and North and South Carolina. The Company produces primarily softwood lumber and also produces oriented strand board (OSB), remanufactured lumber products and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP. 

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