ABH (NYSE, TSX)
MONTREAL, Jan. 22 /CNW Telbec/ - AbitibiBowater Inc. is pleased to
announce the appointment of Richard B. Evans to the position of Chairman of
the Board of Directors of the Company, effective February 1, 2009.
Mr. Evans is currently a director of AbitibiBowater and a member of the
Board of Directors of Rio Tinto plc and Rio Tinto Ltd. He has recently
announced his retirement from the Rio Tinto Boards, effective in April.
Additionally, Mr. Evans is Chief Executive of Rio Tinto Alcan until February
1, 2009, when he will retire from this role. He is the former CEO of Alcan
Inc., current Chairman of the Board of the International Aluminium Institute
and past Chairman of the U.S. Aluminum Association, and a director of the
Canadian Council of Chief Executives. A graduate of Oregon State University
with a Bachelor's degree in engineering, he also holds a Master's in
management from the Stanford University Graduate School of Business. Mr. Evans
and his wife have been residents of Montreal, Canada since 2001.
"We are fortunate to have someone of the calibre of Dick Evans to assume
the Chairmanship of AbitibiBowater," stated David J. Paterson, President and
Chief Executive Officer. "As we continue our work to better position the
Company, we will benefit from Dick's extensive experience and business
insight."
The Company also announced today that John W. Weaver has resigned as
non-Executive Chair of AbitibiBowater, effective February 1, 2009. To permit
an orderly transition, he will remain as a director but will not stand for
re-election at the Company's next Annual Stockholders' Meeting. Mr. Weaver was
President and Chief Executive Officer of Abitibi-Consolidated Inc. from
1999-2007, prior to being appointed Executive Chairman of AbitibiBowater in
October 2007.
"John is an industry leader and has always worked diligently to manage
through challenging times," commented David Paterson. "He was instrumental in
the creation of AbitibiBowater, and on behalf of all Company stakeholders, I
wish John the very best and thank him for his invaluable dedication and
contributions."
Additionally, Gordon D. Giffin will retire from the Board of Directors,
effective immediately. Mr. Giffin has served on the Company's Audit, and
Environment, Health and Safety committees. He is a senior partner with the law
firm McKenna, Long & Aldridge LLP.
"I would also like to extend my thanks and appreciation to Gordon for his
wise counsel and support," stated David Paterson.
AbitibiBowater produces a wide range of newsprint, commercial printing
papers, market pulp and wood products. It is the eighth largest publicly
traded pulp and paper manufacturer in the world. AbitibiBowater owns or
operates 25 pulp and paper facilities and 30 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea. Marketing
its products in more than 90 countries, the Company is also among the world's
largest recyclers of old newspapers and magazines, and has more third-party
certified sustainable forest land than any other company in the world.
AbitibiBowater's shares trade under the stock symbol ABH on both the New York
Stock Exchange and the Toronto Stock Exchange.
