Leadership moves at Weyerhaeuser

Weyerhaeuser announced that Russell Hagen will become senior vice president and chief development officer, overseeing the company’s real estate, energy, and natural resources segment.

Hagen is currently the Seattle-based company’s senior vice president and chief financial officer. He will also oversee acquisitions and divestitures along with the Weyerhaeuser’s business development teams.

A search for a new CFO has been initiated with Hagen transitioning to his new role once his successor has been identified.

Jim Kilberg, currently senior vice president of real estate, energy and natural resources, is retiring in early 2021 as planned.

The forest products company said the moves will ensure a unified approach to portfolio management and support the company's increasing focus on emerging carbon opportunities, in alignment with its recently announced long-term sustainability plan.

"Creating an end-to-end portfolio management team is a natural next step that builds on the strong partnership these teams established as they have worked to optimize and improve our timberlands portfolio over the past several years," said Devin Stockfish, president and CEO of Weyerhaeuser. "Bringing together the complementary analytical capabilities and deep market expertise resident in these teams will further enhance our ability to make the highest-value asset decisions across our entire landscape and deliver superior returns.”

Weyerhaeuser owns or controls about 11 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada. Also one of North America’s largest producers of wood products, Weyerhaeuser had sales of $6.6 billion last year.