AbitibiBowater names new CEO

AbitibiBowater Inc. has appointed Richard Garneau, a former chief executive of Catalyst Paper Corp. and currently a member of the board of directors, as its new chief executive officer. He will take over from David Paterson, who oversaw the company’s restructuring and recent emergence from bankruptcy protection.

Paterson has agreed to stay on in an executive advisory role through January 2011 and a non-executive advisory role through July 31, 2011, supporting a smooth transition and continued positive momentum for the company.

Richard Garneau joined AbitibiBowater as a member of the board of directors in June 2010. Most recently, he served as president and chief executive officer of Catalyst Paper Corporation from March 2007 to May 2010. Prior to his tenure at Catalyst, he held a variety of roles in the forest products industry.