Canfor Corporation (TSX: CFP) Announces Retirement of CEO Don Kayne, Appoint New Successor

July 23, 2024 03:59 PM AEST | By Team Kalkine Media

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Canfor Corporation (TSX: CFP) Announces Retirement of CEO Don Kayne, Appoint New Successor — Image source: Jason Briscoe on Unsplash

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John Baird, Chairman of the Canfor Corporation (TSX: CFP) Board of Directors, has announced that Don Kayne, the company's President and Chief Executive Officer, plans to retire at the end of the year. This leadership change comes after a remarkable 46-year career at Canfor, including 13 years as President and CEO.

Don Kayne's Legacy of Growth and Transformation

Don Kayne's tenure at Canfor has been marked by significant growth and transformation. Since assuming the role of CEO in 2011, he has guided the company from its roots in British Columbia to becoming a global entity with operations across Alberta, the United States, and Sweden. His leadership has not only expanded Canfor's geographical footprint but also strengthened its position within the forest products sector.

Kayne has been a stalwart advocate for the industry, holding influential positions such as Chair of the Forest Products Association of Canada, the BC Council of Forest Industries, and the Bi-national Softwood Lumber Board. His dedication and vision have left an indelible mark on both Canfor and the broader forest products industry.

Welcoming Susan Yurkovich as the New CEO

Canfor has also announced the appointment of Susan Yurkovich as the company's next Chief Executive Officer. Currently serving as Canfor’s Senior Vice President of Global Business Development, Yurkovich brings extensive experience and a deep understanding of the natural resources sector to her new role. With three decades of industry experience, including 12 years at Canfor, she is well-equipped to lead the company into its next chapter.

Yurkovich's career includes notable executive roles in both forestry and energy. She has served as President and CEO of the BC Council of Forest Industries and as Executive Vice President at BC Hydro. Her diverse background and proven leadership abilities make her a fitting successor to continue Canfor's legacy of growth and innovation.

Looking Ahead

The transition from Don Kayne to Susan Yurkovich represents both the culmination of a distinguished era and the beginning of a new chapter for Canfor. Under Yurkovich's leadership, the company is poised to build on its strong foundation and continue its trajectory of global expansion and industry leadership.

As Canfor prepares for this leadership change, the company remains committed to its core values of sustainability, innovation, and excellence in the forest products sector. The Board of Directors and the entire Canfor team express their gratitude to Don Kayne for his decades of service and leadership, and they look forward to the future under Susan Yurkovich's capable guidance.

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