Canexus Corporation announces Richard T. McLellan, Senior Vice President, Finance and Chief Financial Officer will be retiring from the Corporation, effective May 4, 2015.
Doug Wonnacott, President and Chief Executive Officer, stated, "On behalf of the Board and the entire Company I would like to recognize and thank Rich for his invaluable contribution to the Corporation over the last 19 years. Under Rich's leadership, Canexus achieved many milestones and established a strong accounting and finance department focused on supporting the organization's goals and objectives."
With this announcement, Mr. Wonnacott is pleased to announce the promotion of Dean R. Beacon from the position of Vice President, Strategy, Risk and Business Development to Senior Vice President, Finance and Chief Financial Officer, effective May 5, 2015. Mr. Beacon joined Canexus in March 2012 as Treasurer and Director, Risk Management. Prior to joining Canexus, he held similar senior positions responsible for treasury, finance, risk management and marketing. Mr. Beacon also brings experience from the banking industry, having previously worked at two of Canada's major banks.
"The Board and I are confident that Dean brings the knowledge, experience and leadership skills required to lead Canexus forward, while remaining committed to our plan to improve our balance sheet and continue on a path of financial discipline," said Mr. Wonnacott.
Canexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries. Our four plants in Canada and two at one site in Brazil are reliable, low-cost, strategically located facilities that capitalize on competitive electricity costs and transportation infrastructure to minimize production and delivery costs. Canexus also provides fee-for-service hydrocarbon transloading services to the oil industry from its terminal at Bruderheim, Alberta. Canexus targets opportunities to maximize shareholder returns and delivers high-quality products to its customers and is committed to Responsible Care® through safe operating practices. Canexus common shares (CUS) and debentures (Series III - CUS.DB.A; Series IV - CUS.DB.B; Series V - CUS.DB.C; Series VI - CUS.DB.D) trade on the Toronto Stock Exchange. More information about Canexus is available at www.canexus.ca.