Weyerhaeuser Investor Relations
Oct 1, 2010
FEDERAL WAY, Wash., October 1, 2010 — Weyerhaeuser Co. (NYSE: WY) today announced changes to the leadership of its Timberlands, Wood Products and Real Estate businesses effective immediately.
“Today’s announcement results in a leaner, flatter structure,” said Dan Fulton, president and chief executive officer. “The elimination of the executive vice president – Forest Products position increases my direct involvement in the businesses. I am committed to increasing profitability, reducing debt and returning value to shareholders, and I am confident that these changes will help us achieve these goals.”
Tom Gideon, previously executive vice president – Forest Products, assumes leadership of the company’s Timberland business. Gideon led the Timberlands business from 2005 to 2007 and has held a number of leadership positions since joining Weyerhaeuser in 1978.
“Tom has served Weyerhaeuser in many roles and demonstrated his leadership capability,” Fulton said. “Timberlands are our core asset, and the focus of our strategic direction. Tom is the right leader to guide the Timberlands business with his deep understanding of our markets and geographies.”
Larry Burrows, previously president and chief executive officer of the Weyerhaeuser Real Estate Company (WRECO), assumes the role of senior vice president – Wood Products. Burrows has led WRECO since 2008. He joined Weyerhaeuser in 1989.
“Larry has demonstrated his success in driving for substantive improvements to enhance business performance,” Fulton said. “During the last two difficult years, he has brought WRECO back to profitability. He knows the market for our Wood Products business and has the unique experience of having been a wood products customer.”
Peter Orser, previously president of Quadrant Corporation – Weyerhaeuser’s homebuilding operation in the Puget Sound region, becomes president and chief executive officer of WRECO. Orser joined Weyerhaeuser in 1987. He assumed leadership of Quadrant in 2003.
“Peter is well prepared to lead the WRECO family of companies,” Fulton said. “He has demonstrated success in focusing, aligning and building an effective team while still acknowledging significant product and market differences.”
There are no changes in the leadership of the Cellulose Fibers business. Leaders of the Timberlands, Wood Products, Cellulose Fibers and Real Estate businesses now report directly to Fulton.
Weyerhaeuser also announced today that Mike Branson, senior vice president – Timberlands, is retiring.
“I thank Mike for his dedicated service and wish him well,” Fulton said.
Weyerhaeuser Company, one of the world’s largest forest products companies, began operations in 1900. We grow and harvest trees, build homes and make a range of forest products essential to everyday lives. We manage our timberland on a sustainable basis in compliance with internationally recognized forestry standards. At the end of 2009, we employed approximately 14,900 employees in 10 countries. We have customers worldwide and generated $5.5 billion in sales in 2009. Our stock trades on the New York Stock exchange under the symbol WY. Additional information about us is available at http://www.weyerhaeuser.com.
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