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Williamson to Succeed Rogel as Weyerhaeuser Chairman

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  Published in Stocks and Investing on Monday, January 5th 2009 at 6:10 GMT, Last Modified on 2009-01-05 06:11:31 by Market Wire
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FEDERAL WAY, Wash.--([ BUSINESS WIRE ])--Weyerhaeuser Company (NYSE:WY) today announced that the board of directors has elected Charles R. Williamson, 60, to become non-executive chairman following the planned retirement of Steven R. Rogel, 65, on April 15.

Williamson joined Weyerhaeuser's board in 2004, serving as the lead director since 2006. He currently chairs the executive committee and serves on the compensation and finance committees.

"Since joining our board, Chuck has played an essential role in the development of the significant strategic decisions we've made to position Weyerhaeuser for future growth," Rogel said. "I am pleased that the Board has chosen a successorwhose leadership and expertise will complement the diversity of backgrounds and skills of our board and senior management team. I'm confident that both the board and our leadership team will benefit from the guidance and counsel Chuck will provide."

"I am honored to succeed Steve as chairman," Williamson said. "For more than a decade, Steve has guided Weyerhaeuser through a unique period of change as its CEO and chairman. We are indebted to his vision and commitment to make Weyerhaeuser a stronger company. Along with the rest of the board, I look forward to working closely with Dan Fulton and his team as we continue to position Weyerhaeuser for the future and enhance the value of our shareholders' investment."

Williamson was the executive vice president of Chevron Texaco Corporation when he retired in December 2005. Previously, he had served as chairman and chief executive officer of Unocal Corporation until its acquisition by Chevron Texaco. He also is a director of Talisman Energy Inc. and PACCAR Inc.

Rogel has served as Weyerhaeuser's chairman since 1999. He joined Weyerhaeuser in 1997 as president and chief executive officer after serving as president and chief executive officer of Willamette Industries, Inc. from 1995 to 1997 and its president and chief operating officer from 1991 to 1995. He is a director of the Kroger Company and Union Pacific Corporation.

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 ].