TRADING SYMBOL: Toronto Stock Exchange - HWD.UN
LANGLEY, BC, Jan. 25 /CNW/ - Hardwoods Distribution Income Fund (the "Fund") today announced that it has commenced a process to identify a successor for its Chief Executive Officer ("CEO"). Hardwoods current CEO, Maurice Paquette, has advised the board of directors that he intends to retire during 2010, having provided 36 years of service to Hardwoods and its predecessor companies. The board of directors of Hardwoods has commenced a process to identify and evaluate potential candidates to succeed Mr. Paquette in the CEO position. No fixed date has been set for a CEO change. Mr. Paquette will continue in the CEO role until such time as his replacement has been identified. Mr. Paquette will also be available to assist his successor as necessary, in order to facilitate a smooth transition in the CEO leadership role.
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