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Weyerhaeuser Adopts Majority Voting for Election of Directors
PRNewswire-FirstCall
FEDERAL WAY, Wash.
Oct 23, 2007
Weyerhaeuser Company (NYSE: WY) today announced that its board of directors has approved measures to enhance the company's corporate governance practices regarding the election of directors.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a) (Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b)
The company amended its bylaws, effective immediately, to allow for the use of the majority standard in uncontested elections. Under the new amendment, a nominee who does not receive a majority of the votes cast must submit his or her resignation to the board.
Weyerhaeuser's corporate governance guidelines can be found in the investor relations section on the company's website at www.weyerhaeuser.com under "governance."
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2006, sales were $21.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/.
For more information contact: Media - Bruce Amundson (253) 924-3047 Analysts - Kathryn McAuley (253) 924-2058
First Call Analyst:
FCMN Contact:
http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b
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SOURCE: Weyerhaeuser Company
CONTACT: Media, Bruce Amundson, +1-253-924-3047, or Analysts, Kathryn
McAuley, +1-253-924-2058, both of Weyerhaeuser Company
Web site: http://www.weyerhaeuser.com/