VANCOUVER, B.C. – West Fraser President and CEO Ray Ferris is set to retire at the end of the year. Current COO Sean McLaren will take over the role of president and CEO effective Jan. 1, 2024.

The news was announced Aug. 10 by Hank Ketcham, chairman of West Fraser’s Board of Directors.

Ferris has been with West Fraser for more than 26 years. He was appointed president and COO in 2018, and named president, CEO and a director of the company in 2019. During his tenure as CEO West Fraser has grown substantially in sales, profits, product mix and geographic diversification, the company said in a statement. "In addition, Ray has driven our strong commitment to continual improvement in our safety, environmental and people programs."

McLaren has been with West Fraser and predecessor companies for 35 years. "He is a proven leader who is committed to our operating philosophy of low cost production and a prudent balance sheet which enables the company to grow through capital improvements and strategic growth opportunities. Sean will continue West Fraser's commitment to our strong safety, environmental and people focused culture," Ketcham added.

"West Fraser has benefited immeasurably from Ray's strong leadership and our Board enthusiastically looks forward to our continued growth and success under Sean McLaren's leadership."

Based in Vancouver, British Columbia, West Fraser (TSX and NYSE: WFG) is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. The company produces lumber, engineered wood products including OSB, LVL, MDF, plywood, and particleboard, pulp, newsprint, wood chips, other residuals, and renewable energy.