TORONTO, Dec. 21 /CNW/ - Norbord Inc. (TSX:NBD) announced today that John
Tremayne will step down as Executive Vice President and Chief Financial
Officer, effective February 15, 2008.
An internal and external search to fill the position is well advanced.
The Company expects to announce a successor shortly and anticipates a smooth
"I want to thank John for the vital role he has played in re-shaping
Norbord over the past six years," said Barrie Shineton, Norbord's President
and CEO. "John has also improved our corporate governance practices and has
built a very strong financial organization led by a team of first-rate
"I have achieved the goals I wanted to accomplish when I joined Norbord
in 2002," said Mr. Tremayne. "I now look forward to pursuing other challenges
and am confident of the future success of Norbord. I want to thank my
colleagues for their support over the years."
Norbord Inc. is an international producer of wood-based panels and is a
publicly traded company listed on the TSX under the symbol NBD.
This news release contains forward-looking statements, as defined in
applicable legislation. The words "will," "expects to," "anticipates," "am
confident of," and other expressions which are predictions of or indicate
future events, trends or prospects and which do not relate to historical
matters identify forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Norbord to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Although Norbord believes it has a reasonable basis for making these
forward-looking statements, readers are cautioned not to place undue reliance
on such forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
both general and specific, which contribute to the possibility that the
predictions, forecasts and other forward-looking statements will not occur.
Factors that could cause actual results to differ materially from those
contemplated or implied by forward-looking statements include: general
economic conditions; risks inherent with product concentration; effects of
competition and product pricing pressures; risks inherent with customer
dependence; effects of variations in the price and availability of
manufacturing inputs; risks inherent with a capital intensive industry; and
other risks and factors described from time to time in filings with Canadian
securities regulatory authorities and the US Securities and Exchange
Norbord does not undertake to update any forward-looking statements,
whether as a result of new information, future events or otherwise, or to
publicly update or revise the above list of factors affecting this
information. See the "Caution Regarding Forward-Looking Information" statement
in the March 1, 2007 Annual Information Form and the cautionary statement
contained in the "Forward-Looking Statements" section of the 2006 Management's
Discussion and Analysis dated January 31, 2007.
For further information:
For further information: Contact: Anita Veel, Director, Corporate
Affairs, firstname.lastname@example.org, Tel. (416) 643-8838