That Didn't Take Long, New CFO for Canfor

Thursday, September 13, 2007 04:00 AM

Just 8 days after announcing the resignation of Scott Wilson from the post of Chief Financial Officer for Canfor, the company has announced his replacement.

Thomas Sitar will be joining Canfor as its Vice-President, Finance and CFO. Mr. Sitar is currently the CFO of the Canfor Pulp Income Fund and will be joining Canfor following an orderly transition from the Income Fund.

"We are pleased to have Tom join the Canfor executive team," said Jim Shepard, CEO of Canfor. "Tom brings a long history of financial experience in the B.C. forestry industry and will be a significant asset to Canfor."

Mr. Sitar was formerly the Chief Financial Officer of Gryphon Gold Corporation from November 2004 to May 2006. From 1980 to 2003, he held a number of positions with Weldwood of Canada Limited, including as Treasurer from 1986 to 1998 and as Vice-President, Finance from 1998 to 2003. He has been the CFO of the Canfor Pulp Income Fund since 2006.

The announcement means Wilson’s departure from Canfor will be a little faster than many had thought as Wilso had offered to stay on until a replacement could be found.

This is the third senior management position to have changed personnel since March. It started with the departure of CEO Jim Shepherd, then Patch Bonkemeyer resigned from his post as VP of Operations, and the third to go was VP and Chief Financial Officer Scott Wilson.

Previous Story - Next Story

Email |

Print |

Facebook |

Twitter |

Digg |

Del.icio.us

Posted on Thursday, September 13, 2007 04:00 AM in News by 250 News

Return to Home

Comments

Posted by: dgdiggler on September 13 2007 5:25 AM

I find it interesting that these guys jump from one high paying position to another....is it because they are truly good at what they do, or the opposite?

Posted by: Palopu on September 13 2007 8:24 AM

Opposite.

Posted by: Buzz on September 13 2007 9:14 AM

Palopu: Is this another example of you NOT being automaticlaly negative, skeptical, or cynical? Forgive my rose coloured glasses question; it's just that I'm not automatically damning this person without knowing exactly what I'm talking about. Your response is very definite, so I'm assuming you know exactly what you are talking about?

Posted by: Palopu on September 13 2007 9:58 PM

Buzz. When he was hired he was the greatest thing since sliced bread. When he resigns he is replaced and given a hand shake.

CEO'S get up in the morning and go to work just like anyone else. They do not have anymore intelligence than most other human beings. They usually get these jobs through connections: Once there is a change in the Corporate Structure there is a change in top management.

Unless you missed it, Canfor was effectively taken over by Jim Pattison, and a couple of other Companies, and these guys are making changes. Out with the Old and In with the new. Will it make any difference to the Company over the long haul. I doubt it. Canfor has had at least 7 or 8 CEO'S in the last 20 years. **Big Deal** I doubt if anyone in Canada could name them.

Posted by: Buzz on September 14 2007 9:26 AM

Well then, I guess the new guy is BAD then. I mean, come on, this idiot got his job through CONNECTIONS? Shocking. And they might make changes in the future?? TERRIBLE! Let's fire him now, before he messes up the company further. In fact, I vote NO to Canfor. Thanks for the quality information Palopu.

Posted by: dgdiggler on September 14 2007 10:12 AM

If Canfor or divisions of it go by the way of the dodo, it will be because these new CEO's, Managers, etc...have no influence over mother nature and her effect on the lumber industry.

Posted by: Palopu on September 14 2007 8:59 PM

Buzz. Who knows if he is BAD or Good, at the end of the day he does what he is told by the Board of Directors, which includes Jim Pattison and his cronies. People who get jobs by connections dont have to have a lot of smarts. That why they hire people, to work for them.

Did you ever look behind a Politician at a media scrum. You will see one or two people hovering around. These are his brains. They are their to feed him information, and make sure he doesnt make a fool of himself. A lot of CEO'S are the same. They can fly around in jets, make pretty little speeches, and hand out safety certificates, but without their Managers, Secretaries, and Wives, they would not be able to get through a day. Some of them dont even know how to make coffee.

Posted by: Buzz on September 15 2007 8:57 AM

Palopu: You have an extremely limited, narrow point of view at times.