Taiga Building Products Ltd. Announces Leadership Succession Plan

BURNABY, BC, Nov. 24 /CNW/ - Taiga Building Products Ltd. ("Taiga" or the "Company") The Board of Directors of Taiga announced today that they have appointed the next generation of Taiga's Executive Vice Presidents, effective January 1, 2010.

Trent Balog will step into the role of Executive Vice President, Operations; Kevin Bradshaw will assume the role of Executive Vice President, Supply Management; and Grant Sali will move into the role of Executive Vice President, Allied Products and Treated Wood Products.

The Board also announces that effective March 31, 2010,

Jim Bradshaw , President and CEO will be retiring. He will join the Board as a non-executive director thereafter.

The Board is pleased to announce Cam White, currently Taiga's Executive Vice President, Sales & Operations and COO, will be assuming the position of President and CEO effective April 1, 2010. Cam has been employed with Taiga since 1973.

"Jim was one of the founders of Taiga. Not only has he contributed immensely to the Company's success, but Jim is often seen as a part of Taiga itself. On behalf of the Board, I would like to thank Jim for his life of dedication to making Taiga a success. The Board also welcomes Cam as the incoming CEO. We are confident that Cam will bring Taiga to greater heights in the days ahead.", stated

Dr. Tong , Chairman of the Board.

"I am delighted and extremely confident that Taiga has the best of the best leaders in the industry. They will carry the vision of the Company into the next decade. As the next CEO, I see my role principally as mentoring the EVPs and VPs.", stated Cam White.

 

Forward-Looking Statements:

 

This press release contains certain forward-looking information and statements relating, but not limited, to future events or performance and strategies and expectations of Taiga. Forward-looking information typically contains statements with words such as "consider", "anticipate", "believe", "expect", "plan", "intend", "likely", "may", "will", "should", "predict", "potential", "continue" or similar words suggesting future outcomes or statements regarding expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of such forward looking statements within this press release include statements relating to: our anticipated results of operations, including cost reduction savings; our expectations regarding market conditions; the sufficiency of our cash requirements and our ability to remain in compliance with our debt covenants. Readers should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.

These forward-looking statements reflect management's current expectations or beliefs and are based on information currently available to Taiga and although Taiga believes it has a reasonable basis for making the forward-looking statements included in this document, readers are cautioned not to place undue reliance on such forward-looking information. By its nature, the forward-looking information of Taiga involves numerous assumptions and inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts and other forward-looking statements will not occur. These risks include, but are not limited to, changes in business strategies; the effects of litigation, competition and pricing pressures; changes in operational costs; changes in laws and regulations, including tax, environmental, employment, competition, anti-terrorism and trade laws; and Taiga's anticipation of and success in managing the risks associated with the foregoing. A further description of these additional factors can be found in the periodic and other reports filed by Taiga with Canadian securities commissions and available on Sedar (http://www.sedar.com). These forward-looking statements speak only as of the date of this press release. Taiga does not undertake, and specifically disclaims, any obligation to update or revise any forward looking information, whether as a result of new information, future developments or otherwise, except as required by applicable law.