Weyerhaeuser Names Doyle Simons as President and CEO

Doyle Simons.

June 17, 2013 - Weyerhaeuser Company said that its board of directors has elected Doyle Simons, age 49, president and chief executive officer, effective August 1, 2013. He will be engaged as CEO Elect effective immediately.

Simons succeeds Dan Fulton, who turns 65 this year and will be retiring as planned. Effective August 1, Fulton will serve as executive vice chairman of the Weyerhaeuser board of directors until his retirement in October 2013.

"As former CEO and chairman of Temple-Inland, Doyle has a proven track record of driving performance to achieve results," said Chuck Williamson, chairman of Weyerhaeuser's board of directors. "He has deep experience in the forest products industry, broad business and functional expertise and a passion for operational excellence. I know he will bring tremendous energy, vision and leadership to Weyerhaeuser as the company continues to optimize its assets, increase efficiency and pursue sustainable growth."

Simons was chairman and chief executive officer of Temple-Inland from 2008 until February 2012 when it was acquired by International Paper. In 2009, he was selected by investment analysts as RISI's North American CEO of the Year in the paper and forest products industry for his leadership in delivering strong results in a challenging economic environment. He has served on the Weyerhaeuser board of directors since June 2012.

Fulton has been president of Weyerhaeuser Company since January 2008 and chief executive officer since April 2008. Prior to that he was president and CEO of the company's wholly owned real estate subsidiary.

"For nearly six years, Dan has guided Weyerhaeuser with a steady hand through unprecedented economic turmoil and an extremely depressed housing market," Williamson said. "The strength of the company today is clear evidence of his adept leadership through a very challenging period. Dan also oversaw the company's conversion to a real estate investment trust — a change that has proven highly beneficial to Weyerhaeuser shareholders. I look forward to the continued value he will bring to the company as a board member during the transition period over the next several months, and I wish him well in his retirement."

About Simons, Fulton said: "I've had the opportunity to get to know Doyle over the past year as a highly engaged member of our board. I'm excited to see him take the reins to lead Weyerhaeuser to the next level of performance. He has a strong and varied skill set, extensive industry knowledge and deep respect for our company values. I know he'll do a fantastic job building upon the operational improvements we've made to ensure we take full advantage of the housing recovery, maximize the value of our assets and continue to grow."

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. Weyerhaeuser owns or controls more than 6 million acres of timberlands, primarily in the U.S., and manage another 14 million acres under long-term licenses in Canada. Weyerhaeuser is also one of the largest manufacturers of wood and cellulose fibers products, and we develop real estate, primarily as a builder of single-family homes. The company is a real estate investment trust.

SOURCE: Weyerhaeuser Company