TRADING SYMBOL: Toronto Stock Exchange - HWD
LANGLEY, BC, July 29, 2014 /CNW/ - Hardwoods Distribution Inc. (the "Company") today announced that Lance Blanco, the President, Chief Executive Officer and a director of the Company, recently suffered a cycling accident. The full extent of Mr. Blanco's injuries is unknown at this time, but the Company has been advised that Mr. Blanco will require at least three months convalescence before being able to resume his regular duties with the Company. In the interim, the board of directors of the Company has appointed Mr. Rob Brown, the current Chief Financial Officer, as acting Chief Executive Officer. Other senior executives of the Company will assume expanded roles as required, to support the Company until such time as Mr. Blanco returns.
Mr. Brown has 15 years' experience working in the building materials and distribution business with MacMillan Bloedel, Weyerhaeuser, and the Company. Mr. Brown has been Vice President and Chief Financial Officer of the Company since 2004.
Lawrence Sauder, Chairman of the Company, commented, "Our thoughts are with Lance and his family and we are hopeful that he will make a full recovery and return to his normal activities at the Company. While Lance regains his health, we have determined to name an acting Chief Executive Officer. Rob Brown has an intimate knowledge of the Company's business and he will be supported by the other members of the Company's senior executive team, who have been with the Company or its predecessors an average of 18 years."
About Hardwoods Distribution Inc.
Hardwoods (TSX: HWD) is one of North America's largest wholesale distributors of hardwood lumber and related sheet good products, operating a network of 33 locations in the U.S. and Canada.
SOURCE: Hardwoods Distribution Inc.
For further information:
Chief Financial Officer
Phone: (604) 881-1990
Fax: (604) 881-1995
Email: [email protected]