AbitibiBowater Names New CEO After Emerging from Chapter 11

Richard Evans, president and CEO of Montreal-based AbitibiBowater, will step down on Jan. 1, 2011, and will be replaced by Richard Garneau, a current member of the paper recycler’s Board of Directors. Garneau is the former president and CEO of Catalyst Paper Corp.

AbitibiBowater announced last week that it had emerged from Chapter 11 protection.

"Throughout this time of transition, I have been inspired by the desire of all employees to create the right conditions to take AbitibiBowater back to profitability, build strong market presence, promote sustainability and position us for future success," Paterson said in a press release. "Today, after three years of very demanding work, the foundations for that success are clearly in place, and I feel it is the right time to turn my time and attention back to the other people in my life who inspire me — my wife and family."