NEW YORK -- Mercer International Inc. announced that Jimmy Lee is stepping down as Executive Chairman and director of the Company for personal health reasons. He has been appointed Chairman Emeritus. As a result, the Company has revised its governance structure to provide for an independent Chairman. William McCartney, who previously served as lead director, has been appointed Interim Chairman by the Company's board of directors.
Jimmy Lee, Chairman Emeritus, stated: "As I reflect on my time at Mercer, I am thankful for all of the employees, board members and other stakeholders who have helped build Mercer to where it is today. I am sad to be stepping down in my role as Executive Chairman, but believe it is necessary to focus on my health at this time. Mercer has a strong management team and board and I am confident they will continue to deliver on Mercer's strategic vision."
William McCartney, Interim Chairman, stated: "We regretfully accepted Jimmy's resignation, and on behalf of the board of directors, I wish to thank him for his pioneering spirit and strategic aptitude over 35 years. Throughout, he has demonstrated steadfast determination and it has been an honor to work with him. We are grateful that he will serve as Chairman Emeritus, and know he will continue to provide valued counsel to the Company."
Juan Carlos Bueno, Chief Executive Officer, stated: "On behalf of management, I would like to thank Jimmy for his guidance and leadership. As the Company's CEO from 1992 to 2015 and thereafter as Executive Chairman, Jimmy has left an enduring legacy of entrepreneurship and excellence that is embedded in our corporate identity. His entrepreneurial vision was instrumental in Mercer's growth from one pulp mill in 1994 to becoming a leading global forest products Company."
