6/14/2011 10:36:00 AM
HEADLINES
Tree Island Continues Executive Replacement
Tree Island Industries named Dale MacLean as president and CEO, effective July 18.
“We are very pleased to welcome Dale MacLean as Tree Island’s new CEO,” said board chairman Amar Doman. “Dale is a results-oriented leader with extensive knowledge of marketing, sales, operations, and supply chain logistics.”
Prior to joining Tree Island, MacLean served as general manager of Taymor Industries, which supplies builders’ hardware to the North American building products market. MacLean has also served as board chairman for the Prince Rupert Port Authority for the past 5 years.
MacLean’s career includes over two decades with CN Rail and BC Rail where he held senior positions in sales, marketing, customer service and operations management. Prior to joining Taymor, he held responsibility for BC Rail’s $325 million Forest Products, Bulk and Intermodal commercial portfolios as Vice President Marketing and Sales.
MacLean succeeds Ted Leja, who served as CEO of British Columbia-based Tree Island from 1994 to 2006 and returned to assume interim leadership of the company in July 2009. Leja will continue to serve as Vice-Chair of Tree Island Wire Income Fund’s Board of Trustees.
Doman thanked Leja for coming out of retirement to lead Tree Island these past two years.
“He has played a key role in helping us rebuild a fundamentally strong and sound business during difficult times, and he has assured us of his continuing assistance over the coming months to ensure a smooth transition to new leadership.”
Following the resignation of Brian Irving, effective April 8, 2011, Tree Island Wire Income Fund appointed Controller Nancy Davies to CFO and VP of Finance.
A chartered accountant, Davies has been with Tree Island since 2008. Previously, she held positions as Audit Manager at Ernst and Young LLP, Manager SOX Financial Reporting at Placer Dome and Vice President Internal Audit at CHC Helicopter Corporation.
Tree Island reported revenue declined 20% to $132.4 million in 2010. Gross profit improved by $31.4 million to $6.4 million, while EBITDA adjusted for foreign exchange also improved by $36.5 million to a loss of $17 thousand. Net loss for the year was reduced by $12.1 million to $14.8 million.
Launched on November 12, 2002, the Fund holds a 100% ownership interest in Richmond, BC-based Tree Island Industries Ltd., which produces fasteners and other wire products. ©2011 GlobalFastenerNews.com
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