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Murdy Appointed to Weyerhaeuser Board of Directors; Mazankowski Announces Retirement

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  Published in Stocks and Investing on Monday, January 5th 2009 at 6:05 GMT, Last Modified on 2009-01-05 06:06:27 by Market Wire
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FEDERAL WAY, Wash.--([ BUSINESS WIRE ])--Weyerhaeuser Company (NYSE:WY) today announced that Wayne W. Murdy, 64, will join the board of directors effective Jan. 15 following the planned retirement of Rt. Hon. Donald F. Mazankowski, 73, later this month.

"Wayne Murdy's background in finance, natural resource management and international business complements the skills and experience of an already outstanding board," said Steven R. Rogel, chairman. "Wayne's experience and insight will be critical as our company works to unlock all the potential revenue sources from our vast timber and land holdings. We look forward to the contributions Wayne will make to our future growth."

Murdy served as chairman and chief executive officer of Newmont Mining Corporation until his retirement in 2007. He had been CEO since 2001. Before joining Newmont in 1992 as chief financial officer, Murdy spent 15 years serving in senior financial positions in the oil and gas industry, including positions with Apache Corporation and Getty Oil Company. He also is a director of Qwest Communications International, Inc.

"I would also like to thank Don Mazankowski for his outstanding service to our board and shareholders," Rogel said. "His extensive leadership experience served us well as we worked through critical issues such as the softwood lumber agreement between the United States and Canada. Don brought an international viewpoint to the board and was a strong representative of all our stakeholders. We will miss his counsel and I know the board joins me in wishing him the very best."

Mazankowski has been a director since 1997. He was a Member of Parliament in Canada from 1968 to 1993, served as the Deputy Prime Minister from 1986 to 1993 and was Minister of Finance from 1991 to 1993. A business consultant, Mazankowski also serves as a director of the Power Group of Companies, Great-West Lifeco, Inc., IGM Financial, Inc., Canadian Oil Sands Trust and Atco Ltd.

Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at [ http://www.weyerhaeuser.com ].