AbitibiBowater Forms New Executive Team

July 16, 2009 - AbitibiBowater today said, as part of the company's ongoing comprehensive restructuring, that the organization of executive responsibilities has been reviewed and streamlined.

The new, leaner structure will provide for enhanced efficiency and reduced costs, AbitibiBowater said..

"This is the right structure to lead us through both restructuring and emergence from creditor protection," said David J. Paterson, president and CEO. "As we progress through our comprehensive restructuring and filings, AbitibiBowater will continue to explore options to further reduce costs and enhance productivity, including the reduction of SG&A costs at Head Office."

A functional approach was taken in designing the new Executive Team, which will be comprised of five executives reporting to Paterson:

  • Alain Grandmont, Executive Vice President, Human Resources and Supply Chain, will take on a new role that merges the company's human resources and supply chain functions.
  • William G. Harvey, Executive Vice President and Chief Financial Officer, will continue to oversee AbitibiBowater's finance and corporate development functions.
  • Yves Laflamme, Senior Vice President, Wood Products, will continue to lead the company's woodland and sawmill operations, wood products sales and wood fiber sourcing.
  • Pierre Rougeau, Executive Vice President, Operations and Sales, will now lead operations and sales for both the Commercial Printing Papers and Newsprint divisions.
  • Jacques P. Vachon, Senior Vice President, Corporate Affairs and Chief Legal Officer, will continue to have responsibility for overseeing the company's Legal and other corporate functions.

The appointments announced today are effective immediately, AbitibiBowater said.

SOURCE: AbitibiBowater

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