MONTRÉAL, Nov. 5, 2020
/PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP)
today announced that after a 39-year distinguished career with
Resolute, Yves Laflamme will be
stepping down, and retiring, as of March 1,
2021. The board of directors has unanimously selected and
appointed Remi G. Lalonde as the
company's next president and chief executive officer, effective on
the same date. Mr. Lalonde, 44, currently serves as senior
vice president and chief financial officer. Upon becoming president
and CEO, Mr. Lalonde will be appointed to Resolute's board of
directors. The announcement today coincides with Resolute's third
quarter 2020 results.
"The Resolute board of directors enthusiastically supports
Remi Lalonde's selection as the
company's next president and CEO. He has an outstanding track
record of success as well as strength of character and exemplary
personal integrity. Remi's superior leadership skills demonstrated
on a range of strategic initiatives have consistently impressed the
board," stated Bradley P. Martin,
chairman of the board of directors. "Remi has very good
relationships with our stakeholders, sharp analytical skills,
impressive credentials, and a strong business drive. We are
confident he will guide the company through its ongoing strategic
transformation, delivering improved shareholder value. Remi is the
right person at the right time for Resolute."
As president and CEO, Yves
Laflamme advanced Resolute's strategic transformation,
divesting non-core assets and using the proceeds for debt
repayment, organic growth in the company's pulp business, and
acquisition of three sawmills in the southern United States. Recent results in Resolute's
tissue business reflect Mr. Laflamme's commitment to continuous
improvement. He has been a steadfast supporter in the development
of internal talent, building a strong crop of future company
leaders. During the COVID-19 pandemic, Mr. Laflamme has guided the
company in exceedingly difficult times while generously supporting
the communities in which employees work and live. Mr. Laflamme
invested in the development of sustainable biomaterials,
highlighting the added value Resolute brings to fiber. He has also
remained committed to expansion of the company's state-of-the-art
Toundra Greenhouse joint venture, doubling its future production
capacity. Mr. Laflamme is expected to continue to support the
company and Mr. Lalonde in an advisory capacity after March 1, 2021, working on specific mandates.
"The board of directors express their appreciation to
Yves Laflamme for a job well done.
Yves reinforced Resolute's vision and values, focusing on safety,
sustainability, profitability, accountability and teamwork. His
commitment to continuous improvement, particularly in the area of
costs, serves as a model to the entire organization, including the
company's leadership team and board," added Mr. Martin. "His
leadership of Resolute and support of our operating communities set
the foundation for shared prosperity. Yves' unwavering commitment
to workplace safety and environmental stewardship earned Resolute
extensive North American and global recognition."
"I am honored to succeed Yves
Laflamme as Resolute's next president and CEO," said
Remi Lalonde. "I first want to thank
the board and our shareholders for their confidence in offering me
the opportunity to assume the leadership of this company. I
also want to thank Yves for his support and guidance. In my
capacity as CFO, I am fortunate to work in partnership with Yves,
and I sincerely appreciate the trust he has placed in me with
important projects and the leadership role he has had me play in
our overall development. I wholeheartedly believe that Resolute has
a bright future. I am excited to lead this talented team of
7,000+ dedicated people as we accelerate the evolution of our
business to generate long-term value for our shareholders and to
drive sustainable economic activity in the communities where we
operate. The road ahead is certainly not without its
obstacles, which will require some tough decisions, but we are up
to the challenge. I am confident Resolute's culture, one of
dedication, rigor, teamwork and setting high expectations, is
exactly what we need to build on our progress."
Mr. Lalonde has been with Resolute for 11 years, rising through
a series of successive roles in corporate, manufacturing and senior
leadership. He has been serving as the company's senior vice
president and chief financial officer since November 2018, after serving briefly as vice
president for strategy, M&A, business development and
procurement. Before then he was general manager for two and a half
years at Resolute's Thunder Bay,
Ontario, pulp, paper and power complex. He initially joined
the company as senior counsel, securities in 2009, and took on the
additional role of vice president, investor relations in 2011. In
2014, Mr. Lalonde was appointed vice president and treasurer,
before moving into operations in Thunder
Bay in early 2016. He began his legal career at the law firm
Sullivan & Cromwell LLP in New York
City as an associate in the financial institutions and
corporate & finance groups, where he worked for over six years.
He graduated with a bachelor of laws from the University of Ottawa in 2003 and a bachelor of
applied sciences in civil engineering from the University of Ottawa in 1999. Mr. Lalonde has led a
number of important mandates for the company, and has represented
Resolute in major negotiations with governments, private
counterparties, unions and stakeholders. He is admitted to practice
law in New York and Ontario.
"Remi represents the best of our Resolute culture; he works
hard, welcomes collaboration and ideas of others, and believes in
truly sustainable outcomes," said Yves
Laflamme. "Remi consistently delivers superior results. He
grew rapidly within the Resolute ranks, taking on one challenge
after another, and each and every time, he hit the ball out of the
park. As we pass the baton, I am pleased for Remi and for the
entire Resolute organization who will benefit from his capable
stewardship and drive to succeed."
Cautionary Statements Regarding Forward-Looking
Information
Statements in this press release that are not reported financial
results or other historical information are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. They include, for example, statements regarding
the expected future financial results and strategic transformation
of the Company. Forward-looking statements may be identified by the
use of forward-looking terminology such as the words "will,"
"could," "may," "should," "believe," "expect," and other terms with
similar meaning indicating possible future events or potential
impact on our business or our shareholders.
The reader is cautioned not to place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. These statements are based on Resolute's management's
current assumptions, beliefs, and expectations, all of which
involve a number of business risks and uncertainties that could
cause actual performance or outcomes to differ materially from
those expressed or implied in this press release. The potential
risks and uncertainties that could cause Resolute's actual future
financial condition, results of operations and performance to
differ materially from those expressed or implied in this press
release include, the potential risks and uncertainties described
under the heading "Risk Factors" in Part I, Item 1A of Resolute's
annual report on Form 10-K for the year ended December 31,
2019, which have been heightened by the COVID-19 pandemic,
including related governmental responses and economic impacts,
market disruptions and changes in consumer habits, and which should
be read in conjunction with the COVID-19 risk factor update set
forth under the heading "Risk Factors" in Part II, Item 1A of the
company's quarterly report on Form 10-Q for the quarter ended
June 30, 2020.
All forward-looking statements in this press release are
expressly qualified by the cautionary statements set out or
referred to above and in Resolute's filings with the U.S.
Securities and Exchange Commission and the Canadian securities
regulatory authorities. Resolute disclaims any obligation to
publicly update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, except
as required by law.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest
products industry with a diverse range of products, including
market pulp, tissue, wood products and papers, which are marketed
in close to 70 countries. The company owns or operates some 40
facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified
100% of its managed woodlands to internationally recognized
sustainable forest management standards. The shares of Resolute
Forest Products trade under the stock symbol RFP on both the New
York Stock Exchange and the Toronto Stock Exchange.
Resolute has received regional, North American and global
recognition for its leadership in corporate social responsibility
and sustainable development, as well as for its business practices.
Visit www.resolutefp.com for more information.
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SOURCE Resolute Forest Products Inc.
