Wednesday, August 29, 2018
Weyerhaeuser recently announced that Doyle R. Simons has elected to retire, and its board of directors has appointed Devin W. Stockfish as president and chief executive officer, effective Jan. 1, 2019. Stockfish, currently senior vice president of the company’s Timberlands business, will join the company’s board of directors on Jan. 1, 2019, at which point Simons will step down from the board and become senior advisor until his retirement on Apr. 1, 2019.
“In anticipation of this planned transition, the board conducted an extensive succession process and unanimously determined that Devin is the right leader to take this company to the next level,” said Rick R. Holley, chairman of Weyerhaeuser’s board of directors. “Devin has a proven ability to achieve results and an impressive breadth of experience that spans various industries. We are excited about the energy and vision he will bring to this role as we continue to focus on industry-leading performance and disciplined capital allocation.”
“During his tenure as CEO, Doyle has done an outstanding job of focusing the business portfolio, driving improved performance, allocating capital, growing the company and building a strong leadership bench,” Holley continued. “On behalf of the board, I thank Doyle for his tremendous leadership and accomplishments, and wish him all the best in his well-deserved retirement.”
“It’s been an honor to lead this company for the last five years, and I’m proud of the progress we made in positioning Weyerhaeuser for continued value creation with a streamlined portfolio, improved operational and financial performance and an incredibly talented leadership team,” said Simons. “Building the next generation of leaders has been a key priority during my tenure as CEO and the Board and I are confident Weyerhaeuser will continue to thrive under Devin’s leadership. He is a focused, disciplined and respected leader who has demonstrated great judgment, a commitment to delivering results through operational excellence and a passion for developing people. Our shareholders and employees will benefit from his vision and expertise.” Simons added further.
Stockfish said: “It’s an absolute privilege to become Weyerhaeuser’s next president and chief executive officer. We have a world-class team of talented employees who are working every day to build on our momentum as the industry leader. By maintaining our focus on operational excellence and disciplined capital allocation, we will continue to drive shareholder value and ultimately achieve our vision to be the world’s premier timber, land, and forest products company. I also want to thank Doyle for his tremendous leadership and contributions to Weyerhaeuser, as well as his willingness to continue as a senior advisor in early 2019 to ensure a smooth and successful transition.”
As part of the leadership succession plan, the board of directors also announced the following appointments:
• Adrian Blocker will succeed Stockfish as senior vice president of Timberlands, effective Jan. 1, 2019. Blocker currently leads the company’s Wood Products business.
• Keith O’Rear will succeed Blocker as senior vice president of Wood Products, also effective Jan. 1, 2019. O’Rear currently leads the company’s Wood Products Sales and Marketing organization.
“Adrian is one of the most focused, disciplined leaders I’ve ever worked with,” said Simons. “His broad timberlands and manufacturing experience and relentless focus on operational excellence are going to be a tremendous asset to our Timberlands business. Keith brings more than 30 years of manufacturing experience and expertise to this critical role and has been a key member of the Wood Products leadership team alongside Adrian for many years. Keith’s energy, operational expertise and direct customer experience uniquely position him to drive next-level performance in our Wood Products business.” Simons concluded.