![]() WEYERHAEUSER COMPANY INVESTOR MEETING | May 19, 2011 Exhibit 99.1 |
![]() 2 | 05/19/2011 Kathy McAuley Vice President, Investor Relations |
![]() 3 | 05/19/2011 FORWARD LOOKING STATEMENT This presentation contains statements concerning the Company’s future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on various assumptions and may not be accurate because of risks and uncertainties surrounding the assumptions. Factors listed below, as well as other factors, may cause actual results to differ significantly from these forward-looking statements. There is no guarantee that any of the events anticipated by these forward-looking statements will occur. If any of the events occur, there is no guarantee what effect they will have on Company operations or financial condition. The Company will not update these forward-looking statements after the date of the presentation. Some forward-looking statements discuss the Company’s plans, strategies and intentions. They use words such as “expects,” “may,” “will,” “believes,” “should,” approximately,” “anticipates,” “estimates,” and “plans.” In addition, these words may use the positive or negative or a variation of those terms. This presentation contains forward-looking statements regarding the Company’s expectations regarding second quarter 2011, including housing market conditions; market challenges for our Timberlands, Wood Products and Real Estate segments; higher selling prices for western logs; higher harvest volumes in Timberlands, partially offset by higher fuel expenses and seasonally higher road and silviculture costs, with increasing global fee harvest volume and percentage of saw timber over time; decreased sales realizations in lumber and OSB, improved operating rates and cost reductions in our Wood Products segment, partially offset by increased log costs; higher price realizations, partially offset by increased scheduled maintenance costs in the Cellulose Fibers segment, with growing demand for fluff pulp over time; and a seasonal increase in home sale closings and lower margins and average sales prices in our single-family homebuilding operations. Major risks, uncertainties and assumptions that affect the Company’s businesses and may cause actual results to differ from these forward-looking statements include, but are not limited to: • general economic conditions, including employment rates, housing starts, interest rate levels, availability of financing for home mortgages, strength of the U.S. dollar; • market demand for the Company’s products, which is related to the strength of the various business segments and economic conditions; • performance of the Company’s manufacturing operations, including maintenance requirements; • raw material prices; • energy and transportation costs; • successful execution of internal performance plans including restructurings and cost reduction initiatives; • level of competition from domestic and foreign producers; • the effect of the Japanese disaster on demand for company products; • the effect of weather and the risk of loss from fires, floods, windstorms, hurricanes, pest infestation and other natural disasters; • federal tax policies; • the effect of forestry, land use, environmental and other governmental regulations; • legal proceedings; • the effect of timing of retirements and changes in the market price of our common stock on charges for share-based compensation; • changes in accounting principles; • performance of pension fund investments and derivatives; and • the other factors described under “Risk Factors” in the Company’s annual report on Form 10-K. The Company also is a large exporter and is affected by changes in economic activity in Europe and Asia, particularly Japan and China. It also is affected by changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Canadian dollar, Euro and Yen. Restrictions on international trade or tariffs imposed on imports also may affect the Company. |
![]() AGENDA DAN FULTON: Introduction TOM GIDEON: Timberlands LARRY BURROWS: Wood Products PETER ORSER: Weyerhaeuser Real Estate Company (WRECO) SHAKER CHANDRASEKARAN: Cellulose Fibers PATTY BEDIENT: Financial Update DAN FULTON: Conclusion and Q&A 4 | 05/19/2011 |
![]() 5 | 05/19/2011 Dan Fulton President and Chief Executive Officer INTRODUCTION |
![]() 6 | 05/19/2011 Valuable timberland holdings Leader in adding and extracting value from timberlands Businesses have the size and scale to compete, and generate cash and returns Positioned to benefit from the recovery in housing • Timberlands, Wood Products, Homebuilding Capturing global growth in log and cellulose fibers markets Committed to creating value for our shareholders Conversion to REIT completed in 2010 WEYERHAEUSER OVERVIEW |
![]() 7 | 05/19/2011 WEYERHAEUSER OVERVIEW Weyerhaeuser Company Timberlands (REIT) Taxable REIT Subsidiary Non-REIT Timber Business Wood Products Weyerhaeuser Real Estate Company (WRECO) Cellulose Fibers Lumber, OSB, Engineered Wood Products Over 6 million acres of timberlands Specialty Absorbent Pulp Single Family Homebuilding Land Development Minerals and other non-qualifying activities |
![]() 8 | 05/19/2011 Challenging housing market expected to continue in 2011 Pace of recovery is uncertain Housing will return to long-term trend levels Focused on operating profitably at today’s level of activity HOUSING MARKET OVERVIEW |
![]() 9 | 05/19/2011 Tom Gideon TIMBERLANDS Executive Vice President, Timberlands |
![]() 10 | 05/19/2011 COMPETITIVE ADVANTAGES World class timberland holdings Manage for optimum value – Innovative silviculture – Focus on sawlogs Scale and infrastructure Broad access to domestic and international markets Strong, long-standing customer relationships Well-positioned as market conditions improve |
![]() 11 | 05/19/2011 TIMBERLANDS STRATEGY Grow and manage financially attractive, sustainable forests Apply market knowledge and scale to create additional value Explore opportunities for future growth Increasing cash flow and asset value |
![]() 12 | 05/19/2011 U.S. TIMBERLANDS IN MOST PRODUCTIVE REGIONS US West US South Nearly 2 million acres west of the Cascade Mountains, primarily high value Douglas fir Over 4 million acres in 7 states across the U.S. South, primarily loblolly pine |
![]() 13 | 05/19/2011 ASSET BASE IS OVER 90% PRODUCTIVE TIMBERLANDS Weyerhaeuser timberlands located in most productive geographies High quality sawtimber Source of environmental and public benefits Does not include 14.0 million acres of forestland under license in Canada Timberlands Acres (000) % US West US South Uruguay China JV Total Core 1,851 3,723 327 44 5,945 92.5% Non-Core 104 381 - - 485 7.5% TOTAL 1,955 4,104 327 44 6,430 100% |
![]() 14 | 05/19/2011 SILVICULTURE OPTIMIZED THROUGH THE ROTATION Silviculture practices enable objective to grow sawtimber as quickly as possible Sustainability Genetics Stand Management Final Harvest • US West • US South • Uruguay • China Financial Optimization Site Preparation, Fertilizer, Thinning and Pruning Seedlings |
![]() 15 | 05/19/2011 SUSTAINABILITY AND ENVIRONMENTAL CAPABILITIES Meet ecological and sustainability requirements – Enable higher yields throughout a rotation – Satisfy customer requirements – Improve sustainability performance through collaboration with partners and investment in research Leads to increased value |
![]() 16 | 05/19/2011 ALL LANDS INDEPENDENTLY CERTIFIED Key stakeholder involvement Based on sound science – Open, independent, peer reviewed research Program broad in scope – Lands managed for productivity and ecosystem values Recognized by the Dow Jones Sustainability Index |
![]() 17 | 05/19/2011 HARVEST MIX Weyerhaeuser’s timber resource and tree-growing strategy enables a high proportion of high value grade logs – improving over time. % GRADE LOGS TIMBERLANDS NOW 2020-2030 South 60% 65% 70% West 93% Steady International 30% 40% 50% |
![]() 18 | 05/19/2011 VALUE OF SAWTIMBER GRADE LOGS IS HIGHER Sawtimber logs consistently trade at a higher price than chip-n-saw and pulpwood 10 20 30 40 50 60 2005 2006 2007 2008 2009 2010 2011 2012 Delivered Southern Average Prices $/Green Ton Delivered Quarterly Source: Timber Mart-South, Wood Biomass Market Report Pulpwood Sawtimber Chip-N-Saw |
![]() 19 | 05/19/2011 HARVEST VOLUME OUTLOOK IS POSITIVE More productivity per acre Weyerhaeuser Global Fee Harvest Volume 0 5 10 15 20 25 30 2010 2015 2020 2025 2030 INTERNATIONAL U.S. |
![]() 20 | 05/19/2011 U.S. TREND LOG DEMAND EXCEEDS DOMESTIC SUPPLY U.S. lumber demand starting recovery from cyclic low Canadian lumber imports will not return to prior peaks Rising lumber / log demand should lead to higher prices 0 10 20 30 40 50 60 70 1976 1985 1995 2005 2010 2015 2020 BBF US Lumber Consumption by Source Offshore Imports Canadian Imports US Production Forecast* Source: WWPA, AF&PA *Weyerhaeuser |
![]() 21 | 05/19/2011 ASIAN DEMAND PULLING ADDITIONAL U.S. SUPPLIES Japan is a premium market for logs China imports of U.S. timber significantly higher, helping offset weak domestic demand Western Douglas Fir Log Prices $/MBF Quarterly Source: Log Lines 0 1000 2000 3000 4000 5000 6000 7000 2009 2010 Korea Japan China U.S. Off-Shore Softwood Log Exports Cubic Meters Annual Source: U.S. Dept of Agriculture 270% Increase |
![]() 22 | 05/19/2011 UNIQUELY ADVANTAGED TO SERVE ASIAN EXPORT MARKETS Strategically located timberlands Well-developed infrastructure and sales relationships 19% of timberlands revenue from export log sales – Japan is a premium market for Weyerhaeuser logs – China represents an increasingly large and attractive opportunity 2010 Export Log Revenue by Country Japan 81% China 13% Korea 6% |
![]() 23 | 05/19/2011 U.S. LOG PRICES HAVE BOTTOMED 2011 Q1 Western prices up significantly, helped by export markets Southern markets more dependent on U.S. housing, delaying improvement 250 350 450 550 650 750 2000 2002 2004 2006 2008 2010 2012 DF #2 Log Price SYP Sawlog Douglas Fir #2 Sawlog Price vs. Southern Average Pine Sawlog Price $/MBF Quarterly Source: Log Lines, Timber Mart-South |
![]() 24 | 05/19/2011 U.S. OIL, NATURAL GAS, AGGREGATES AND MINERALS 7.1 million net mineral acres Oil and gas – $30-50 million annual business – Revenue interest in >1,000 producing wells – Haynesville Shale (LA) • ~12,000 acres under lease in core Aggregates and minerals – $10+ million annual business • Economic downturn affected 2009-2010 revenues • New operations adding to revenues |
![]() 25 | 05/19/2011 NEW OPPORTUNITIES Biomass – Catchlight Energy • KIOR agreement Wind Geothermal |
![]() 26 | 05/19/2011 COMPETITIVE ADVANTAGES World class timberland holdings Manage for optimum value – Innovative silviculture – Focus on sawlogs Scale and infrastructure Broad access to domestic and international markets Strong, long-standing customer relationships Well-positioned as market conditions improve |
![]() 27 | 05/19/2011 Larry Burrows WOOD PRODUCTS Senior Vice President, Residential Wood Products |
![]() 28 | 05/19/2011 2010 Wood Products Net Sales $2.6 billion 13% 21% 17% 49% Lumber Engineered Wood Products OSB / Plywood Panels Other WEYERHAEUSER WOOD PRODUCTS •Primarily new residential •Modest export •Primarily new residential •Modest repair & remodel •Modest export •New residential •Repair & remodel •Export Leader in manufacture of wood products •New residential |
![]() 29 | 05/19/2011 Generate cash in 2011 in today’s market Continued focus on cost reduction – SG&A down additional 20% (2011 Q1 vs. 2010 Q1 ) – Operating costs 10% lower (2011 Q1 vs. 2010 Q1 ) Rationalize and optimize capacity 2011 2009 Q1 2011 Q1 Capacity Utilization Rate Lumber 4,530 MMBF 58% 79% OSB 3,015 MM3/8 38% 66% TJI 380 MMLF* 16% 32% Solid Section 39 MMCF** 16% 37% * Includes 1 indefinitely curtailed facility ** Includes 3 indefinitely curtailed facilities STRATEGIC IMPERATIVES: GENERATE CASH AND IMPROVE MARGINS |
![]() 30 | 05/19/2011 STRATEGIC IMPERATIVES: GENERATE CASH AND IMPROVE MARGINS Profitably grow revenue – Develop and diversify markets (domestic & international) – Improve pricing – Customer selection – Improve product mix |
![]() Grande Prairie Drayton Valley Princeton Raymond Longview Santiam Cottage Grove SPF EXPORT SPF DOUG-FIR GREEN HEM-FIR DOUG-FIR KD SO. PINE WEST SO. PINE CENTRAL SO. PINE EAST DOUG-FIR GREEN Idabel Dierks Zwolle Dodson Holden McComb Millport Bruce Philadelphia Greenville Plymouth New Bern LUMBER: MARKET DEMAND DRIVES MILL AND LOG ALIGNMENT 31 | 05/19/2011 |
![]() Hudson Bay Grayling Arcadia Sutton Elkin Edson EdgeGold Flooring Markets Web, Sheathing, Edge, and RBS Markets OSB: FOCUSED MARKET AND MILL ALIGNMENT 32 | 05/19/2011 |
![]() 33 | 05/19/2011 ENGINEERED: SUPERIOR BRAND PERFORMANCE AND RECOGNITION *Quality rated on scale of 1 to 7 with 7 being excellent Source: 2011 Brand Use Study, Builder Magazine 5.96 5.58 5.55 TJI (WY) GP Boise Brand Most Used by Builders Highest Quality* 21% 12% 10% TJI (WY) GP Boise |
![]() 34 | 05/19/2011 ILLUSTRATION OF WEYERHAEUSER WOOD PRODUCTS IN A HOME |
![]() 35 | 05/19/2011 WEYERHAEUSER WOOD PRODUCTS USED IN FLOORS LUMBER Solid Sawn Joists OSB OSB Floor Panels Rim Board ENGINEERED LUMBER I-Joists Stair Treads Engineered Lumber Beams |
![]() 36 | 05/19/2011 WEYERHAEUSER WOOD PRODUCTS USED IN WALLS LUMBER Framer Series ® and Pro Series ™ Lumber Studs Treated Sill Plate OSB OSB Wall Sheathing ENGINEERED LUMBER Shear Brace Engineered Headers Engineered Wall Framing |
![]() 37 | 05/19/2011 WEYERHAEUSER WOOD PRODUCTS USED IN ROOFS LUMBER Framer Series ® and Pro Series ™ Lumber Solid Sawn Lumber OSB Radiant Barrier Sheathing OSB Roof Sheathing ENGINEERED LUMBER Engineered Beams Truss Chords TJI ® Joists Timberstrand ® Roof Framing |
![]() 38 | 05/19/2011 SIGNIFICANT LONG-TERM OPPORTUNITY IN WOOD PRODUCTS Improving demand – U.S. housing returns to trend – Increasing Asian consumption of North American lumber Lower Canadian lumber imports, due to pine beetle and increased exports to Asia Earnings upside from additional available capacity Well-positioned to leverage scale and product mix |
![]() 39 | 05/19/2011 Peter Orser WEYERHAEUSER REAL ESTATE COMPANY (WRECO) President, Weyerhaeuser Real Estate Company |
![]() ![]() ![]() ![]() ![]() ![]() ![]() 40 | 05/19/2011 OVERVIEW Top 20 builder of single-family homes Operate in select markets with positive long-term trends |
![]() 41 | 05/19/2011 NEAR-TERM STRATEGIES Control the controllables Reposition product Rebalance land portfolio Focused on generating cash |
![]() 42 | 05/19/2011 Sales Per Community Per Month Source: SEC filings TARGETED VALUE PROPOSITIONS SUSTAIN COMPETITIVENESS +14% |
![]() 43 | 05/19/2011 CONTROLLING THE CONTROLLABLES: COST OF PRODUCTION Disciplined production cost-control provides margin support – Cost effective product designs – National contract leverage – Subcontractor selection and supervision – Reduced cycle time (1) Single-family margins equal revenue less cost of sales and period costs (other than impairments and deposit write-offs) |
![]() 44 | 05/19/2011 CONTROLLING THE CONTROLLABLES: REDUCING EXPENSES Took immediate steps to substantially reduce costs Organization adjusting to local market conditions Reduced marketing expense through increased usage of digital media $0 $50 $100 $150 $200 $250 $300 2008 2009 2010 SG&A |
![]() 45 | 05/19/2011 CONTROLLING THE CONTROLLABLES: INCREASED REFERRALS Maintaining industry leading customer- satisfaction ratings Leads to lower marketing costs and increased conversion rates Source: Woodland-O’Brien Industry Average 86-90% |
![]() 46 | 05/19/2011 RE-POSITIONING INITIATIVES Launched new townhome product line directed at mid-to-upper price segment in north San Diego County Sustained absorption of 5 units per month at average sales price of $550,000 |
![]() 47 | 05/19/2011 RE-POSITIONING INITIATIVES “Living Smart” product line offering sustainable features became the best selling new home series in the Inland Empire Named Green Building Advocate of the Year for 2010 by NAHB Features that either reduce consumption or actually generate energy. The extensive use of sustainable materials that help conserve natural resources. Low VOC paint and other features that promote healthy living. Landscaping and fixtures that help conserve water usage. |
![]() RE-POSITIONING INITIATIVES Re-branded from “More House. Less Money” to “Built Your Way” Expanded market reach to first-time move-up segment New orders increased 5% year-over-year in first quarter and average sales price increased 7% |
![]() 49 | 05/19/2011 RE-POSITIONING INITIATIVES Successfully introduced Texas Casual Cottage product line Opened second location in response to strong market interest |
![]() RE-POSITIONING INITIATIVES Re-designed townhome product line to seamlessly integrate affordable dwelling units with market rate homes Continued expansion of Camberley Homes brand |
![]() 51 | 05/19/2011 RE-POSITIONING INITIATIVES Re-designed product line to appeal more broadly to move-up market segment and reduce costs Improved point of sale experience |
![]() 52 | 05/19/2011 CONTROLLING THE CONTROLLABLES: DISCIPLINED LAND SPENDING Lot acquisition activity linked to market demand Focused on “how” we buy, as well as “what” we buy |
![]() STRATEGICALLY RE-POSITION LAND PORTFOLIO Align land value proposition with sub-market opportunity Land Designated for Sale Lots Owned as of 12/31/10 or Closest Reporting Period 53 | 05/19/2011 |
![]() 54 | 05/19/2011 LONGER-TERM STRATEGIES Control the controllables Capitalize on opportunities in existing markets Realign land portfolio |
![]() 55 | 05/19/2011 Shaker Chandrasekaran CELLULOSE FIBERS Senior Vice President, Cellulose Fibers |
![]() 56 | 05/19/2011 Fluff market is tight Despite additional capacity entering the market, fluff demand expected to exceed supply in next 3-4 years Global inventories remain low Favorable exchange rate FAVORABLE MARKET CONDITIONS |
![]() 57 | 05/19/2011 100% of 2010 Revenues from Fluff and Value Added Grades 14% 20% 48% 18% Absorbent Pulp (Fluff) Specialty Pulp Towel and Tissue Liquid Packaging Board FOCUSED ON VALUE ADDED GRADES |
![]() 58 | 05/19/2011 FOCUSED ON VALUE ADDED GRADES Global Softwood and Dissolving Wood Pulp Market Global Market Share – ~26% of Fluff – ~10% of Towel and Tissue *Dissolving Wood Pulp is from both Hardwood & Softwood $$$ $ Towel and Tissue 4 13 |
![]() HOW OUR PRODUCTS ARE USED Diapers and personal care products Premium towel and tissue products Textiles and nonwovens and industrial applications Packaging for dairy, juice and premium beverage containers |
![]() 60 | 05/19/2011 GEOGRAPHICALLY DIVERSE BUT STRATEGICALLY LOCATED • NBSK for Towel and Tissue • Pulp for Liquid Packaging Board • NORPAC • Fluff Pulp for Absorbents and Specialty Grades COLUMBUS LONGVIEW Pulp Mills Liquid Packaging Board NORPAC Joint Venture PORT WENTWORTH NEW BERN FLINT RIVER GRANDE PRAIRIE |
![]() 61 | 05/19/2011 EMERGING MARKETS LEADING GROWTH Global Market Fluff Projected Demand Growth Rates from 2010-2015* * Source: RISI |
![]() 62 | 05/19/2011 Weyerhaeuser’s CF 2010 Revenues POSITIONED TO GROW IN EMERGING MARKETS 62% of revenue from international markets Export to over 60 countries Strategically located multilingual global sales team Strategic relationships with key global market leaders EMEA 7% Europe 14% Japan 16% Asia (Non-Japan) 22% North America 38% S. America 3% |
![]() 63 | 05/19/2011 OPERATIONAL EXCELLENCE World class reliability – Maximize uptime – Maximize quality Continue to reduce fiber, chemical and energy costs Decrease the frequency of planned shutdowns from 12 months to 18 months (target: 2013-14) – Results in “incremental” capacity – Reduces maintenance spending Getting more from our existing assets – building a “virtual mill” |
![]() 64 | 05/19/2011 Leading innovation in cellulose fibers – Developed and launched dissolving wood pulp extender, Pearl® – Introduced “next generation” Modified Fiber for global customers – Improving proprietary fibers for specialty applications – Delivering innovative liquid packaging board solutions INNOVATING FOR HIGHER MARGINS |
![]() 65 | 05/19/2011 BUILDING ON OUR STRENGTHS Continuing to focus on value added grades Nurturing strategic partnerships with key global customers Operational excellence Innovation |
![]() 66 | 05/19/2011 Patty Bedient FINANCIAL UPDATE Executive Vice President, and Chief Financial Officer |
![]() 67 | 05/19/2011 2011 Q2 EARNINGS UPDATE Segment Comments Timberlands Improved selling prices for western logs and higher harvest volumes, driven by strong export demand Flat sales realizations in the South on slightly higher volumes Higher fuel, road and silviculture expenses Excluding the disposition of non-strategic timberlands, expect 2011 Q2 earnings to be slightly higher than 2011 Q1 Wood Products Decreased sales realizations in lumber and OSB Higher log costs in the West Anticipate slightly increased operating loss in 2011 Q2 vs. 2011 Q1 Expect positive cash flow from the segment in 2011 Q2 |
![]() 68 | 05/19/2011 2011 Q2 EARNINGS UPDATE Segment Comments Cellulose Fibers Higher selling prices and slightly higher sales volumes Increase in the number of scheduled annual maintenance outages will result in higher maintenance costs and lower productivity Expect 2011 Q2 earnings to be higher than 2011 Q1 Real Estate Anticipate seasonal increase in single-family home closings Average closing price declines slightly due to mix Expect breakeven results from single-family homebuilding operations in 2011 Q2 |
![]() 69 | 05/19/2011 DIVIDEND PAYOUT POLICY Targeting a dividend payout ratio of 75% of Funds Available for Distribution (FAD) over cycle FAD defined as cash flow before debt repayment and dividends Will consider repurchasing shares Current quarterly dividend of 15 cents per share, or 60 cents per share on annualized basis 2011 dividend payout ratio will exceed 75% of FAD, given current outlook A sustainable dividend that we expect to grow over time |
![]() 70 | 05/19/2011 STRONG LIQUIDITY AND IMPROVING CAPITAL STRUCTURE Cash balance as of 3/31/2011: ~$1.5 billion New 4-year credit facility expected by 6/30/2011 Exercised “make whole” on $518 million of 6.75% March 2012 bonds to be redeemed 6/2/2011 Strong capital structure supports sustainability of dividend 2011 2012 2013 2014 2015-2016 Revised Maturities 551 199 409 15 0 Ending Debt Balances $4,509 $4,310 $3,901 $3,886 |
![]() 71 | 05/19/2011 CAPITAL SPENDING Estimated 2011 capital spending: $250-270 million Capital investment in projects that: • Meet customer demand • Lower costs • Enhance earnings capabilities |
![]() 72 | 05/19/2011 STRATEGIC GROWTH PRIORITIES Increase timberland holdings to grow cash flow and earnings Apply timberland management expertise Leverage scale, infrastructure and market access |
![]() 73 | 05/19/2011 Dan Fulton President and Chief Executive Officer CONCLUSIONS / Q&A |
![]() 74 | 05/19/2011 Leader in adding and extracting value from timberlands All businesses have the ability to generate cash and returns Committed to a sustainable dividend that we expect to grow over time Target growth in timberland holdings Take advantage of future opportunities to create value for shareholders CONCLUDING COMMENTS |
![]() 75 | 05/19/2011 THIRD PARTY VALIDATION |
![]() 76 | 05/19/2011 BIOGRAPHIES |
![]() 77 | 05/19/2011 DAN FULTON Dan Fulton was elected chief executive officer and a member of the board of directors in April 2008. He remains as president of Weyerhaeuser Company, a position he assumed in January 2008. From May 2001 until March 2008 he was president and chief executive officer of Weyerhaeuser Real Estate Company, a wholly owned subsidiary of Weyerhaeuser Company. In January 2004 he was named to Weyerhaeuser Company’s senior management team. Fulton joined Weyerhaeuser’s investment evaluation department in 1976. He transferred to Weyerhaeuser Real Estate Company (WRECO) in 1978. In 1979 Dan transferred to WRECO’s Weyerhaeuser Venture Company where he held a series of investment management roles. From 1987–1988 Dan served as the chief executive officer of Cornerstone Columbia Development Company. In 1988 he returned to Weyerhaeuser Venture Company and its affiliate Weyerhaeuser Realty Investors. Dan served in various management and investment positions before becoming president and chief executive officer of Weyerhaeuser Realty Investors and Weyerhaeuser Venture Company from 1998–2000. Before joining Weyerhaeuser, he served as an officer in the U.S. Navy Supply Corps. Fulton graduated with a bachelor of arts degree in economics from Miami University (Ohio) in 1970. He received a master of business administration degree in finance from the University of Washington in 1976, and he completed the Stanford University Executive Program in 2001. Fulton currently serves on numerous national boards, including the Business Roundtable (BRT), National Alliance of Forest Owners (NAFO), and Sustainable Forestry Initiative (SFI). He also is a member of the Washington State Roundtable. Fulton serves as chair of United Way of King County, and chair of the Policy Advisory Board of the Joint Center of Housing at Harvard University. |
![]() 78 | 05/19/2011 PATTY BEDIENT Patty Bedient was named Executive Vice President and Chief Financial Officer in April 2007. She became senior vice president of Finance and Strategic Planning in February 2006 and from February 2003 to 2006 she served as vice president of Strategic Planning. Prior to joining the company, Patty was with Arthur Andersen LLP for 27 years, where she served a number of clients in the forest products, manufacturing, distribution and educational service industries. She began her career with Arthur Andersen in Portland, Oregon, becoming a partner in 1987. In 1993 she transferred to the Boise, Idaho, office. From 1999-2002 she served as the managing partner for the Seattle office and as the partner in charge of the firm's forest products practice. Bedient attended Oregon State University where she received a bachelor of science degree in Business Administration, with a concentration in accounting and finance. Patty is a certified public accountant and is a member of the American Institute of CPAs and the Washington Society of CPAs. She currently serves on the board of directors of Alaska Air Group, the Oregon State University Foundation board of trustees, the advisory board for the University of Washington School of Business, and the San Francisco regional advisory board for FM Global. She has served on the boards of the World Forestry Center, the Forest History Society, and the Forest Research Lab advisory committee, Oregon State University. She has also served as past president, City Club of Portland; past chair, board of regents, St. Mary's Academy of Portland; past vice chair, Boise Chamber of Commerce; and past treasurer for both United Way of Ada County, Idaho, and Alliance for Education in Seattle. |
![]() 79 | 05/19/2011 TOM GIDEON Tom Gideon was named executive vice president, Timberlands, in October 2010. He had been executive vice president, Forest Products, since July 2008. Gideon became senior vice president of Containerboard Packaging and Recycling in March 2007. From 2005 to 2007 he held the position of senior vice president, Timberlands. Gideon joined Weyerhaeuser in 1978, working at NORPAC as an employee representative for the SW Washington region. He held several labor relations and human resources positions, becoming the human resources, and then sales manager, at the Elkin, N.C., Structurwood facility. He held several human resources jobs in Wood Products before moving into Western Timberlands in 1996. In 1998 Gideon assumed the role of director of sales and marketing for Western Timberlands. From 2003 to 2005 he held the position of vice president for Western Timberlands where he was responsible for managing approximately 2.2 million acres of certified managed forests in Oregon and Washington. Gideon graduated in 1974 with a bachelor of arts degree in business administration from the University of Washington. In 1978 he received an MBA in Labor Relations and a Juris Doctor, Law, also from the University of Washington. He has served on several special assignments and projects, including the Labor Principles team (1994-1995); the team leader for the Western Timberlands Design and Implementation Team (1996); the Western Labor Council Chairman (1996 through 2004); Western Wood Products and Timberlands team leader for the Willamette integration; and as the team lead for the Support Alignment Human Resources effort. He has been a recipient of the President's Award (1994). Gideon is a member of the Washington State Bar Association and a former board member of the Oregon Forest Industry Council. |
![]() 80 | 05/19/2011 LARRY BURROWS Larry Burrows was appointed senior vice president, Residential Wood Products, in October 2010. He had been president and CEO of Weyerhaeuser Real Estate Company (WRECO) since March 2008. Previously he was president of Winchester Homes Inc., Weyerhaeuser’s homebuilding operation in the Washington, D.C. area. Prior to joining Weyerhaeuser in 1989, Burrows was with Gladstone Associates from 1976–1980. From 1980–1982 he was a development manager for Mason Hirst; 1982–1986 he served as project manager and vice president, Oliver T. Carr & Co.; and from 1986–1988 he was vice president and regional manager for Dickinson Heffner. In 1989 he joined Winchester Homes Inc., where he served in several different capacities, including development manager, director of development, division vice president, construction services division vice president, and executive vice president, before becoming president of Winchester Homes in 2003. Larry graduated from Rutgers University (1974) with a B.A. in Urban Studies, and received a master’s degree in Urban Planning from the University of Pennsylvania (1976). He attended the Wharton Business School Advanced Management Program (2000), the Weyerhaeuser Leadership Institute (2003) and the WRECO Leadership Institute (2004). Burrows served on the Board of HomeAid of Northern Virginia and chaired the Volume Builders Council for the Maryland National Capital Building Industry Association. He was a co-founder of the Regional Quality Council for the Maryland National Capital and the Northern Virginia Building Industry Associations. |
![]() 81 | 05/19/2011 PETER ORSER Peter Orser was appointed president and CEO of Weyerhaeuser Real Estate Company (WRECO) in October 2010. He oversees five real estate companies and the company’s builder financing operation. Previously he was president of Quadrant Corporation, Weyerhaeuser’s homebuilding operation in the Puget Sound region of Washington. Orser joined Quadrant Homes in 1987, assuming leadership in 2003. He has been involved in every major element of Quadrant’s diverse real estate businesses. Over the last 10 years, Peter has led a reengineering of the Home Building operation, bringing Quadrant to prominence as Washington’s largest home builder. Peter attended the University of Puget Sound where he earned a Bachelor of Science degree in natural science. He earned his master’s degree from the University of Washington in urban planning. He is currently a commissioner and past Chairman of the King County Housing Authority, a board member and treasurer for the Cascade Land Conservancy, and a board member for the Seattle Chamber of Commerce. He served as President of the King and Snohomish County Master Builders Association in 2004. He also served five years as the Mercer Island planning commissioner and was elected to a four-year term on the city council in 1994. |
![]() 82 | 05/19/2011 SHAKER CHANDRASEKARAN Shaker Chandrasekaran was appointed senior vice president, Cellulose Fibers business in December 2006. He assumed additional responsibilities for Liquid Packaging Board and Newsprint businesses in June 2007, and in 2009, Westwood Shipping and Weyerhaeuser Engineering Services were added to his portfolio. Previous to these roles, Shaker served as the mill manager and vice president at Weyerhaeuser’s Kingsport, Tenn., paper mill and the Kamloops, B.C., cellulose fibers mill and more recently vice president Manufacturing, Cellulose Fibers. A 39-year veteran of the pulp and paper industry, Chandrasekaran started his career in India, and then migrated to the U.S. in 1980. After graduate education, he joined Container Corporation of America and then worked for Mead, and later Willamette Industries, which was acquired by Weyerhaeuser in 2002. Shaker received a bachelor of science in chemical engineering from the University of Madras, India (1971), and a master of science in paper science and engineering from Miami University, Oxford, Ohio (1982). He has also completed the Stanford University Executive program and other executive management programs at the Wharton Business School and the Darden School of Business at the University of Virginia. Shaker currently serves on the board of trustees for Miami University Paper Science & Engineering Foundation. He is also the Chairman of the Board of NORPAC, a joint venture between Weyerhaeuser Company and Nippon Paper Industries, Japan. Effective January 2010, he was named Weyerhaeuser’s Corporate Safety Champion. |
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