Mercer International CFO, David Ure, Leaving Company; Richard Short to Succeed Him

Feb. 27, 2023 - Mercer International Inc. today announced that David Ure, who has served as CFO and Secretary since 2015, will be leaving the Company effective June 1, 2023.

Mercer has promoted its Vice President, Controller, Richard Short to succeed Ure as Chief Financial Officer and Secretary.

Ure will step down from his current executive duties after more than seven years as CFO and over 17 years in all with Mercer. Ure will continue as an advisor until the end of August 2023 to assist Short and Mercer to facilitate a smooth transition.

"On behalf of the full Board, I would like to thank Dave for his many years of leadership and tireless service to Mercer as CFO and previously as Vice President, Finance," said Juan Carlos Bueno, Mercer's CEO. "He has been a key leader of Mercer's finance team and an integral part of our growth. We sincerely appreciate David's contributions and his support through the transition process and wish him all the best going forward."

Ure stated, "I have served in executive leadership at Mercer for over 17 years. I feel this is the right time for me to step away. I also want to thank our Board of Directors, shareholders and other stakeholders for their continual support. I'm confident that Richard will be an excellent CFO for Mercer."

Short, 55, has extensive experience and a proven track record in finance, accounting and the forest products industry over a 30-year career. Since 2014, he has served as Mercer's Vice President, Controller. From 2006 to 2014, he served in a number of positions with Mercer, including as Director, Corporate Finance and Controller, Financial Reporting.

Short holds a Bachelor of Arts in Psychology from the University of British Columbia and has been a member of the Chartered Professional Accountants of Canada since 1993.

Mercer International Inc. (Nasdaq: MERC) is a global forest products company with operations in Germany, the USA and Canada with an annual production capacity of 2.3 million tonnes of pulp, 960 million board feet of lumber, 140 thousand cubic meters of cross-laminated timber, 17 million pallets and 150,000 metric tonnes of wood pellets.

SOURCE: Mercer International Inc.