Pope & Talbot Announces Leadership Changes

  
    
  
  
    
      Pope & Talbot, Inc. (NYSE:POP) today announced the selection of Harold 
      Stanton, 56, a member of the board and veteran wood products executive, 
      as President and CEO. Lionel Dodd, previously Presiding Director of the 
      board, was elected non-executive Chairman. He and Dodd assume their 
      responsibilities immediately. Outgoing President, CEO, Chairman and 
      Director, Michael Flannery will assist with the transition in an 
      advisory capacity until June 30th. Stanton has 
      relocated to Portland.
    
    
      “The board is delighted to have someone with 
      Harold Stanton’s energy, vision and experience 
      lead Pope & Talbot at this important point in our history,” 
      said Mr. Dodd. “Harold has excelled in every 
      aspect of the business, from manufacturing to distribution to sales and 
      marketing. His unique combination of operational and team building 
      skills, demonstrated strategic and restructuring capabilities, as well 
      as his public company experience, made him a perfect choice.”
    
    
      “The board thanks Mike for his contributions 
      and service, and wishes him the very best in his retirement,” 
      said Mr. Dodd. Flannery joined Pope & Talbot in 1986 as Vice President 
      and General Manager of the Wood Products Division. He assumed the post 
      of President and CEO in 1999.
    
    
      Prior to joining the Pope & Talbot Board on December 8, 2006, Stanton 
      served as Executive Vice President, Specialty Products and Sales for 
      Nashville, Tennessee-based Louisiana Pacific Corporation. During his 
      near-decade tenure at LP, Stanton led some of the company’s 
      most valuable and strategic businesses and was a key player in the 
      reinvestment program that positioned LP for record profits in 2003 
      through 2005. At LP, Stanton’s businesses 
      were solid financial performers and amassed strong safety, environmental 
      and quality records. Also included in his more than 30 year career in 
      the wood products industry were several key positions in International 
      Paper Company’s decorative products division. 
      Stanton also serves on the board of Martco, a private wood products 
      company and holds a bachelor of sciences in business administration from 
      New York Institute of Technology.
    
    
      Incoming Chairman Lionel Dodd joined the board in 1999 following Pope & 
      Talbot’s acquisition of Harmac Pacific Inc. 
      where he had been a director since 1998. He was appointed Presiding 
      Director in 2006 and currently chairs the corporate governance committee 
      and serves on the audit committee. He has occupied executive positions – 
      Chief Executive Officer, Chief Operating Officer and Chief Financial 
      Officer – as well as directorships for a 
      number of publicly traded and private companies in Canada and the United 
      States. Dodd earned a MBA from the University of California at Berkeley.
    
    
      “Pope & Talbot is one of the oldest and most 
      resilient companies in this industry and I am very proud to have the 
      opportunity to lead it,” said Stanton. “We 
      have great assets and a talented workforce, but we are in a very 
      difficult time for this industry as wood prices continue to decline and 
      raw material costs for pulp increase.”
    
    
      “My management team and I will have no 
      greater priority than to reposition our company to sustain this downturn 
      while we develop and execute a strategic plan. Our initial focus – 
      which we intend to pursue with the help of every Pope & Talbot employee – 
      will be to work toward operational excellence while we generate the cash 
      necessary to meet our financial obligations. In doing this, we will 
      scrutinize every asset and every aspect of this business,” 
      said Stanton.
    
    
      Pope & Talbot is a pulp and wood products business. The Company is based 
      in Portland, Oregon, and trades on the New York Stock Exchange under the 
      symbol POP. Pope & Talbot was founded in 1849 and produces market pulp 
      and softwood lumber at mills in the US and Canada. Markets for the 
      Company’s products include the US, Europe, 
      Canada, South America and the Pacific Rim. For more information, please 
      check our website and www.poptal.com.