VANCOUVER, British Columbia, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Finning International Inc. (TSX: FTT) (“Finning”) announced today that Mr. Doug Whitehead is retiring as Board Chair and Board member effective January 15, 2019 after 20 years with Finning. Doug joined Finning in 1999 as Chief Operating Officer and took the reins as Chief Executive Officer in 2000. Over the next eight years, he presided over one of the strongest growth periods in Finning’s history. In 2008, after achieving many years of record results, Doug retired as CEO and joined Finning’s Board, where he served as Board Chair for all but one year.
Mr. Hal Kvisle, an independent director, will succeed Mr. Whitehead as Board Chair. Mr. Kvisle joined Finning’s Board in July 2017, bringing decades of leadership experience in the oil and gas, utilities, and power generation industries, including nine years as president and chief executive officer of TransCanada Corporation.
Finning is also pleased to announce the appointment of Mr. Edward (Ted) Seraphim as an independent director to the Board of Directors effective January 15, 2019. Mr. Seraphim has over 33 years of operations, marketing and sales experience in the forest products industry. Currently, he is Chief Executive Officer of West Fraser Timber Company Limited, which he joined in 1997. Prior to becoming CEO, Mr. Seraphim held the roles of President and Chief Operating Officer and Vice President, Pulp & Paper at West Fraser. Before joining West Fraser, he worked for Fletcher Challenge Canada. Mr. Seraphim holds a Bachelor of Commerce degree from the University of British Columbia and is a Chartered Accountant.
"On behalf of the Board, I would like to recognize Doug for his tremendous contributions and leadership during his 20 years with Finning. Doug has been a great leader and a fundamental part of Finning’s success. We are also pleased to welcome Ted to Finning’s Board. He brings extensive business experience and leadership. We look forward to benefitting from his insight and leveraging his direct industry knowledge,” said Mr. Kvisle.
About Finning
Finning International Inc. is the world’s largest Caterpillar equipment dealer delivering unrivalled service to customers for 85 years. Finning sells, rents, and provides parts and service for equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.
| Contact Information | ||
| Investor Relations Inquiries: Mauk Breukels VP, Investor Relations & Corporate Affairs (604) 331-4934 mauk.breukels@finning.com www.finning.com |
Media & Government Relations Inquiries: Elisha McCallum Director, Global Communications (604) 331-4992 elisha.mccallum@finning.com www.finning.com |
Forward Looking Information
This news release includes “forward-looking information” (as defined in applicable Canadian securities legislation) that is based on assumptions that management believes are reasonable as of the date of this news release, but may ultimately turn out to be incorrect.
Forward-looking information in this news release is regarding changes to Finning’s Board of Directors and is only considered accurate at the time of issuance but may later be superseded by more current information. Except as required by law, Finning does not undertake any obligation to update the information, whether as a result of new facts becoming known, future events occurring or otherwise.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Finning to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information in this presentation. Important information identifying and describing such risks, uncertainties and other factors is contained in Finning’s most recently filed annual information form (under the headings “Forward-Looking Information” and “Key Business Risks”) and in the management’s discussion and analysis of financial results (MD&A) portions of Finning’s most recent annual and quarterly financial reports (under the headings “Risk Factors and Management” and “Forward-Looking Disclaimer”). These documents may be accessed on the Finning website at www.finning.com (in the financial reports section on the Investors page) or the SEDAR website at www.sedar.com.
