Weyerhaeuser reveals CEO succession plan
Weyerhaeuser announced today that Doyle Simons will retire from his position as CEO and president of the forest products and timberlands company.
The Seattle-based company’s board of directors has appointed Devin Stockfish as president and CEO, effective Jan. 1, 2019. Stockfish, currently serves as senior vice president of the company's Timberlands business. He will also join the company's board of directors on Jan. 1.
Weyerhaeuser CEO Doyle Simons.
Simons will step down from the board and become a senior advisor until his official retirement on Apr. 1, 2019. The executive has served as CEO and president of Weyerhaeuser since Aug. 1, 2013.
"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 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.”
Adrian Blocker will succeed Stockfish as senior vice president of Timberlands, effective Jan. 1. 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. O'Rear currently leads the company's Wood Products Sales and Marketing organization.
In its most recent earnings report, Weyerhaeuser posted second quarter net earnings were $317 million, up from $24 million a year ago. Net sales increased from $1.8 billion to $2.1 billion for the quarter.
The Seattle-based company’s board of directors has appointed Devin Stockfish as president and CEO, effective Jan. 1, 2019. Stockfish, currently serves as senior vice president of the company's Timberlands business. He will also join the company's board of directors on Jan. 1.
Weyerhaeuser CEO Doyle Simons. Simons will step down from the board and become a senior advisor until his official retirement on Apr. 1, 2019. The executive has served as CEO and president of Weyerhaeuser since Aug. 1, 2013.
"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 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.”
Adrian Blocker will succeed Stockfish as senior vice president of Timberlands, effective Jan. 1. 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. O'Rear currently leads the company's Wood Products Sales and Marketing organization.
In its most recent earnings report, Weyerhaeuser posted second quarter net earnings were $317 million, up from $24 million a year ago. Net sales increased from $1.8 billion to $2.1 billion for the quarter.