TRADING SYMBOL: Toronto Stock Exchange - HWD.UN
LANGLEY, BC, June 17 /CNW/ - Hardwoods Distribution Income Fund (the "Fund") announced today that Lance Blanco has been appointed Chief Executive Officer ("CEO") effective July 5, 2010.
Mr. Blanco has 26 years experience in the forest products industry, having held senior positions in sales, distribution, marketing, manufacturing and supply chain optimization with Weyerhaeuser and MacMillan Bloedel. Mr. Blanco's tenure with Weyerhaeuser included leadership positions as Vice President of Enterprise Supply Chain Management, of Business Development, and of the Cedar Group.
"We are pleased to welcome Lance to our senior leadership team," said Terry Holland, Chairman of the Fund's Board of Trustees. "Lance has significant forest products knowledge and sales and distribution experience. He brings a demonstrated track record of entrepreneurship, strategic planning and organizational leadership to Hardwoods."
Mr. Blanco will assume the CEO role from Maurice Paquette. Mr. Paquette, who is retiring after 36 years of service to Hardwoods and its predecessor companies, will be available to assist in an orderly transition in the Chief Executive Officer position.
"I thank Maurice for his leadership and commitment to Hardwoods," Mr. Holland added. "Maurice leaves the business with an exceptional team of operational leaders in place, and his dedication to our business is sincerely appreciated. On behalf of the Board, I wish Maurice the very best in his retirement."
About the Fund
Hardwoods Distribution Income Fund is an unincorporated, open-ended, limited purpose trust established to hold, indirectly, an 80% interest in the securities of Hardwoods Specialty Products LP and Hardwoods Specialty Products USLP (collectively, "Hardwoods"). The Fund was launched on March 23, 2004, with the completion of an initial public offering of 14,410,000 units.
Hardwoods is one of North America's largest distributors of high-grade hardwood lumber and sheet goods to the cabinet, moulding, millwork, furniture and specialty wood products industries. Hardwoods operates 27 distribution centres in the U.S. and Canada.
SOURCE HARDWOODS DISTRIBUTION INCOME FUND
For further information: For further information: Rob Brown, Chief Financial Officer, Phone: (604) 881-1990, Fax: (604) 881-1995, Email: email@example.com