The strategic decision to decentralize the businesses and management is expected to improve the ability to focus on the unique aspects of each business, provide for more efficient decision-making processes and to allow for increased entrepreneurialism and cost-control measures.

"The successful decentralization of our lumber mill and paper mill businesses signifies a pivotal moment in our history. I am tremendously proud of the team for their efforts," Paul Rivett, Executive Chair of GreenFirst. "We are excited to welcome Terry as CEO of Kapuskasing paper mill, as he brings a valuable wealth of knowledge and experience with him."

"The completion of the decentralization and the appointment of Terry as CEO of the Kapuskasing paper mill will allow both businesses to focus on improving operational efficiencies going forward," said Joel Fournier, CEO of GreenFirst, "we are pleased to welcome Terry; his leadership and expertise in the pulp and paper industry will be an excellent addition to the Kapuskasing paper mill."

About GreenFirst

GreenFirst Forest Products is a forest-first business, focused on sustainable forest management and lumber production. The Company owns four sawmills located in rich wood baskets proudly operating over 6.1 million hectares of FSC® certified public Ontario forestlands (FSC® C167905). The Company believes that responsible forest practices, coupled with the long-term green advantage of lumber, provide GreenFirst with significant cyclical and secular advantages in building products.