The CEO who steered Richmond-based Catalyst Paper through the toughest three years in its history is stepping down.
Kevin Clarke will leave the pulp and paper company in June.
Clarke was at the helm of the company as it struggled under $800 million in debt through 2012, sold off assets in Canada and the United States and relisted on the TSX.
The company had been hit hard by declining demand for newsprint. As a result of its restructuring efforts, the business emerged from creditor protection in early 2013.
“Under his leadership, the company intensified its focus on stakeholder relationships which culminated in the rapid completion of a reorganization plan that significantly improved Catalyst's balance sheet and cost structure,” said Catalyst chairman Les Lederer.
The company operates three mills in B.C., located at Crofton, Port Alberni and Powell River.
