Domtar President and CEO John D. Williams to Take Temporary Medical Leave of Absence

Rhea-AI Summary

Domtar Corporation (NYSE: UFS) announced that its CEO, John D. Williams, has contracted Covid-19 and is taking a temporary medical leave. Daniel Buron, the current Senior Vice-President and CFO, will oversee the company's operations in Mr. Williams's absence. The Board of Directors reassures that business will continue as normal under the management team. Domtar, a leading provider of fiber-based products with annual sales of approximately $5.2 billion, employs around 8,800 people globally.

Positive

• Daniel Buron appointed to manage operations during CEO's medical leave.
• Board assures continuity of business operations.

Negative

• CEO's medical leave may signal uncertainty in leadership continuity.

Domtar Corporation (NYSE: UFS) (TSX: UFS) announced that John D. Williams, President and Chief Executive Officer, has contracted the Covid-19 and is taking a temporary medical leave of absence.

The company’s Board of Directors has appointed Daniel Buron, Senior Vice-President and Chief Financial Officer, to assume Mr. Williams’s authority and responsibility until he returns from his leave of absence. Mr. Buron will continue in his role as Senior Vice President and CFO.

The Board of Directors expects Domtar’s business to continue to operate as normal, with a strong, experienced management team.

The company, its Board and employees all wish John a speedy recovery and look forward to his return.

About Domtar

Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and absorbent hygiene products. With approximately 8,800 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. Domtar’s annual sales are approximately $5.2 billion, and its common stock is traded on the New York and Toronto Stock Exchanges. Domtar’s principal executive office is in Fort Mill, South Carolina. To learn more, visit www.domtar.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210129005235/en/

FAQ

Who is temporarily managing Domtar while the CEO is on leave?

Daniel Buron, Senior Vice-President and CFO, is temporarily managing the company.

What was the reason for Domtar's CEO taking a leave of absence?

John D. Williams is on a temporary medical leave due to contracting Covid-19.

How does Domtar expect to operate during the CEO's absence?

The Board of Directors expects normal business operations to continue under the management team.

What is Domtar's annual sales figure?

Domtar's annual sales are approximately $5.2 billion.