Abitibi, Bowater Propose Executive Team

July 18, 2007 - Abitibi-Consolidated and Bowater [yesterday] announced the proposed executive team to lead AbitibiBowater Inc., pending approval of the proposed combination and appointment by the Board of AbitibiBowater.

As previously announced, John W. Weaver, currently president and CEO of Abitibi-Consolidated, will be executive chairman of the new company, responsible for all corporate functions. David J. Paterson, currently chairman, president and CEO of Bowater, will serve as president and CEO of AbitibiBowater, with primary responsibility for operations and sales.

AbitibiBowater will be organized into four primary businesses: North American Newsprint, International, Commercial Printing and Coated Papers, and Wood Products. Each business will have bottom-line responsibility for all aspects of operations and sales.

In addition to Weaver and Paterson, AbitibiBowater's executive team is expected to include the following nine executives:

  • Alain Grandmont, Senior Vice President, Commercial Printing and Coated Papers Business. Grandmont is currently Senior Vice President, Commercial Printing Papers, for Abitibi-Consolidated.
  • William G. Harvey, Senior Vice President and Chief Financial Officer. Harvey is currently Bowater's Executive Vice President and Chief Financial Officer.
  • Yves Laflamme, Senior Vice President, Wood Products Business. Laflamme is currently Abitibi-Consolidated's Senior Vice President, Woodlands and Sawmills.
  • Jon Melkerson, Senior Vice President, Business and Corporate Development - inclusive of the growing Recycling and Energy businesses, as well as Marketing, Strategic Planning and Manufacturing Excellence. Melkerson is currently Abitibi-Consolidated's Vice President, International Newsprint Sales.
  • Pierre Rougeau, Senior Vice President, North American Newsprint Business. Rougeau is currently Abitibi-Consolidated's Senior Vice President, Corporate Development and Chief Financial Officer.
  • W. Eric Streed, Senior Vice President, Supply Chain - comprised of Information Technology, Customer Service, Logistics and Procurement. Streed is currently Bowater's Executive Vice President, Operations and Process Improvement.
  • Thor Thorsteinson, Senior Vice President, International Business - inclusive of international newsprint and pulp. Thorsteinson is currently Abitibi-Consolidated's Senior Vice President, Newsprint.
  • Jacques P. Vachon, Senior Vice President, Corporate Affairs and Chief Legal Officer, will have responsibility for overseeing the combined company's Legal, Communications & Government Affairs, Internal Audit and Environment & Sustainability functions. Vachon currently holds a similar position within Abitibi-Consolidated.
  • James T. Wright, Senior Vice President, Human Resources. Wright currently holds similar responsibilities at Bowater.

The executive team has been proposed by Abitibi-Consolidated and Bowater. The team's appointment is subject to the approval of the Board of AbitibiBowater.

AbitibiBowater will be the 3rd largest publicly traded paper and forest products company in North America and the 8th largest in the world. AbitibiBowater will own or operate 32 pulp and paper facilities and 35 wood product facilities located mainly in Eastern Canada and the Southeastern U.S. It will also be among the world's largest recyclers of newspapers and magazines, and a global leader in sustainable forest management through independent third-party certification.

SOURCE: Abitibi-Consolidated Inc.

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