Harold Stanton Becomes President and CEO with the Retirement of Michael
Flannery; Lionel Dodd Assumes Board Chairmanship
PORTLAND, ORE., April 13 /CNW/ - Pope & Talbot, Inc. (NYSE: POP) today
announced the selection of Harold Stanton, 56, a member of the board and
veteran wood products executive, as President and CEO. Lionel Dodd, previously
Presiding Director of the board, was elected non-executive Chairman. He and
Dodd assume their responsibilities immediately. Outgoing President, CEO,
Chairman and Director, Michael Flannery will assist with the transition in an
advisory capacity until June 30th. Stanton has relocated to Portland.
"The board is delighted to have someone with Harold Stanton's energy,
vision and experience lead Pope & Talbot at this important point in our
history," said Mr. Dodd. "Harold has excelled in every aspect of the business,
from manufacturing to distribution to sales and marketing. His unique
combination of operational and team building skills, demonstrated strategic
and restructuring capabilities, as well as his public company experience, made
him a perfect choice."
"The board thanks Mike for his contributions and service, and wishes him
the very best in his retirement," said Mr. Dodd. Flannery joined Pope & Talbot
in 1986 as Vice President and General Manager of the Wood Products Division.
He assumed the post of President and CEO in 1999.
Prior to joining the Pope & Talbot Board on December 8, 2006, Stanton
served as Executive Vice President, Specialty Products and Sales for
Nashville, Tennessee-based Louisiana Pacific Corporation. During his
near-decade tenure at LP, Stanton led some of the company's most valuable and
strategic businesses and was a key player in the reinvestment program that
positioned LP for record profits in 2003 through 2005. At LP, Stanton's
businesses were solid financial performers and amassed strong safety,
environmental and quality records. Also included in his more than 30 year
career in the wood products industry were several key positions in
International Paper Company's decorative products division. Stanton also
serves on the board of Martco, a private wood products company and holds a
bachelor of sciences in business administration from New York Institute of
Incoming Chairman Lionel Dodd joined the board in 1999 following Pope &
Talbot's acquisition of Harmac Pacific Inc. where he had been a director since
1998. He was appointed Presiding Director in 2006 and currently chairs the
corporate governance committee and serves on the audit committee. He has
occupied executive positions -- Chief Executive Officer, Chief Operating
Officer and Chief Financial Officer -- as well as directorships for a number
of publicly traded and private companies in Canada and the United States. Dodd
earned a MBA from the University of California at Berkeley.
"Pope & Talbot is one of the oldest and most resilient companies in this
industry and I am very proud to have the opportunity to lead it," said
Stanton. "We have great assets and a talented workforce, but we are in a very
difficult time for this industry as wood prices continue to decline and raw
material costs for pulp increase."
"My management team and I will have no greater priority than to
reposition our company to sustain this downturn while we develop and execute a
strategic plan. Our initial focus -- which we intend to pursue with the help
of every Pope & Talbot employee -- will be to work toward operational
excellence while we generate the cash necessary to meet our financial
obligations. In doing this, we will scrutinize every asset and every aspect of
this business," said Stanton.
Pope & Talbot is a pulp and wood products business. The Company is based
in Portland, Oregon, and trades on the New York Stock Exchange under the
symbol POP. Pope & Talbot was founded in 1849 and produces market pulp and
softwood lumber at mills in the US and Canada. Markets for the Company's
products include the US, Europe, Canada, South America and the Pacific Rim.
For more information, please check our website and www.poptal.com.
For further information:
For further information: Media Contact: Hubbell Communications Mark
Rossolo, 503-274-4054 or 503-796-3013 or Investor Contact: Pope & Talbot, Inc.
Neil Stuart, CFO, 503-220-3777