- Canfor (TSX:CFP) announced that Don Kayne, president and chief executive officer, plans to retire at the end of the year
- He has been with Canfor for 46 years and has held the position of president and chief executive officer since 2011
- Canfor appointed its current senior vice president of global business development, Susan Yurkovich, as the next chief executive officer.
- Canfor stock opened trading at C$14.67
Canfor (TSX:CFP) announced that Don Kayne, president and chief executive officer, plans to retire at the end of the year.
He has been with Canfor for 46 years and has held the position of president and chief executive officer since 2011. Under his leadership, the company has grown and transformed from its British Columbia roots into a global entity with operations in Alberta, the United States and Sweden.
In a media release on this transition, the company called Kayne a respected industry leader who has been a constant champion for the forest products sector, serving in a variety of industry roles including chair of the Forest Products Association of Canada, the B.C. Council of Forest Industries and the Bi-national Softwood Lumber Board.
He will continue in an advisory capacity with the company through 2025.
The company’s chairman, John Baird, also announced that Canfor had appointed its current senior vice president of global business development, Susan Yurkovich, as the next chief executive officer. She brings three decades of experience working in the natural resources sector to the role, 12 of those years with Canfor. She had served in executive roles in forestry and energy, including as president and CEO of the B.C. Council of Forest Industries and executive vice president at B.C. Hydro. Her appointment as CEO will take effect Jan. 1, 2025.
Canfor Corp. is an integrated forest products company involved in manufacturing high-value, low-carbon forest products. The company operates through two segments: lumber segment and pulp and paper segment. The company’s solid wood products include dimension lumber, specialty lumber and engineered wood products.
Canfor (TSX:CFP) stock opened trading at C$14.67 and has lost 18.49 per cent since the beginning of the year.
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(Top photo: Canfor Corp.)