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Mercer International Announces Leadership Transition

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Mercer International Inc., New York, N.Y., USA, this week announced that its board of directors has implemented a leadership transition plan that capitalizes on the strength and depth of management. Jimmy S.H. Lee, currently CEO, president, and chairman of the company, transitioned to executive chairman of the board, effective July 20. At that time, David M. Gandossi, Mercer's  CFO assumed the role of president and CEO and became a director. 

Mercer also announced that David K. Ure, SVP, Finance concurrently became the CFO and secretary of the company.

Lee said that "it has been an honor and privilege to serve as Mercer's CEO and one of its founders. In my new role, I will be responsible for focusing upon developing Mercer's overall corporate strategy, capital market activities, and corporate development initiatives. I look forward to continuing to work with the board and the senior management team as Mercer enters its next chapter of growth and success. I have had the opportunity to work closely with David Gandossi over the past decade, during which time David has demonstrated his dedication and operational aptitude, and I believe that David will excel as Mercer's next CEO." 

Gandossi added that "I am very excited and humbled by this opportunity and am pleased to be taking on this exciting new role. On behalf of everyone at Mercer, I would like to thank Jimmy for his leadership and vision over the past 23 years, which has been instrumental in building the company. As executive chairman, Jimmy will continue to be actively involved with the company by lending his expertise to the development of Mercer's strategic goals and initiatives. I look forward to being able to continue working with Jimmy in the execution of the company's strategic affairs. 

"I also want to congratulate David Ure. Since returning to Mercer in 2013, David has become an important member of the management team and is well respected for his extensive forest products industry experience. I look forward to working with the Mercer team as we continue to execute our strategy to realize the full operational and financial potential at Mercer on behalf of all our stakeholders," Gandossi concluded.

Lee has served as director of the company since May 1985 and president and CEO since 1992. During his tenure at Mercer, the company acquired the Rosenthal mill and converted it to the production of kraft pulp, constructed and commenced operations at the Stendal mill, and acquired the Celgar mill.
 
Gandossi has served as EVP, CFO, and secretary since August 2003. His previous roles included CFO and other senior executive positions with Formation Forest Products and Pacifica Papers Inc. Since 2007, Gandossi has chaired the British Columbia Pulp and Paper Task Force, a joint government industry and labor effort mandated to identify measures to improve the competitiveness of the British Columbia pulp and paper industry. He also participated in the Pulp and Paper Advisory Committee to the B.C. Competition Council, and was a member of B.C.'s Working Roundtable on Forestry. He is currently a director of FPInnovations and chair of the FPI National Research Advisory Committee. He also co-chairs the B.C. Bio-economy Transformation Council, a collaborative effort between government and industry. 

Ure returned to Mercer in September 2013, assuming the role of SVP, Finance. Prior to serving as VP, Finance of Sierra Wireless Inc., Ure was VP, controller at Mercer from 2006 to 2010. He has also served as controller at various companies including Catalyst Paper Corp., Pacifica Papers Inc., and TrojanLitho, as well as CFO and secretary of Finlay Forest Industries Inc. Ure has more than 15 years of experience in the forest products industry.
 

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