AbitibiBowater Names Nine to New Board of Directors

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By: E&P Staff

North America’s largest newsprint producer, AbitibiBowater, headquartered in Montreal and incorporated in Wilmington, Del., has selected nine persons to serve with current Chairman Richard B. Evans and President and CEO David J. Paterson on its new board of directors, their term to commence when the company’s reorganization plans is approved by creditors and confirmed by U.S. and Canadian Courts, and it emerges from bankruptcy protection in the United States and Canada.

Designated non-executive chairman of the board is Richard B. Evans, continuing the practices of having a non-executive chairman and a majority of independent directors.

Assisted by an independent search firm, a committee representing the unsecured creditors, unsecured noteholders and the company selected the following board members of the restructured company.

Pierre Dupuis is a former president and chief operating officer of printer-publisher Transcontinental Inc. and a senior executive with forest products company Domtar Inc.

Richard Falconer is vice chairman and managing director of CIBC World Markets Inc.

Richard Garneau, a director of AbitibiBowater since June, most recently served as president and CEO of Catalyst Paper Corp. He earlier was a Domtar operations executive.

Jeffrey Hearn retired last year from International Paper, where he served as an officer and held various general- and technology-management positions. He chaired the paperboard manufacturing and converting section of the American Forest Products Association, and is a former vice chair of the Forest Products Association of Canada.

Sarah Nash, a board member and head of the audit committee of Merrimack Pharmaceuticals and director of Knoll Inc., retired as vice chairman of J.P. Morgan Chase & Co.’s investment bank.

Alain Rhéaume, a managing partner at Trio Capital Inc., most recently was a Rogers Wireless executive. Rhéaume was Quebec’s associate deputy minister of finance from 1987 to 1992 and deputy minister of finance until 1996. He serves on the Canadian Public Accounting Board and the Canadian Investors Protection Fund.

Paul Rivett, an AbitibiBowater board member since April 2008, has been vice president and chief legal officer of Fairfax Financial Holdings Ltd. since 2004 and serves as vice president and chief operating officer of Hamblin Watsa Investment Counsel Ltd.

Michael Rousseau has been executive vice president and chief financial officer of Air Canada since October 2007. Previously he was president of Hudson’s Bay Co.

David Wilkins, a lawyer for 34 years in Greenville, S.C., was U.S. Ambassador to Canada under President George W. Bush and served 25 years in the South Carolina House of Representatives, including service as speaker of the house.

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