Resolute Forest Products chief executive Yves Laflamme to retire next year

MONTREAL — Resolute Forest Products says chief executive Yves Laflamme will retire next year and be replaced by chief financial officer Remi Lalonde.

The forestry company says Laflamme will step down on March 1, 2021, at which point Lalonde will join the board of the Montreal-based lumber, paper and tissue maker.

The company credits Laflamme with overseeing the its expansion in the tissue business and in the southern U.S., as well as Resolute’s move toward more sustainable materials. 

Resolute says the search is now on for a new CFO to replace Lalonde, a lawyer by training who joined the company 11 years ago.

The announcement came as Resolute reported third-quarter financial results this morning, swinging to a profit after posting a loss in summer 2019. 

The company says it earned net income of $57 million, or 66 cents per diluted share, on sales of $730 million in the three months ending Sept. 30 — up from a loss of $43 million,  or 47 cents per share, on sales of $705 million in the year-ago period.

This report by The Canadian Press was first published Nov. 5, 2020.

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The Canadian Press