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Finning CEO announces retirement

Feb. 8, 2013–Finning International has announced that Mike Waites has decided to retire in 2013 and will not seek re-election as a director at Finning’s 2013 annual meeting of shareholders.Waites will continue to serve as president and CEO until a replacement is appointed in order to facilitate an effective transition of responsibilities.


February 6, 2013
By Finning International


Feb. 8, 2013–Finning International has announced that Mike Waites has decided to retire
in 2013 and will not seek re-election as a director at Finning’s 2013 annual
meeting of shareholders. Waites will continue to serve as president and CEO
until a replacement is appointed in order to facilitate an effective transition
of responsibilities.

“This is the right decision as I approach the fifth anniversary of my tenure as
CEO. I am confident that my decision comes at a time when Finning is
well-positioned for continued success many years into the future," said Waites.
“I am fully committed to working with the board of directors to identify a successor
and I look forward to leading our strategic initiatives during this orderly transition
period.”

Doug Whitehead, chairman of Finning’s board of directors, has advised that as
part of the company’s succession process, the board of directors has retained
an executive search firm to assist with the process of selecting a successor to
Mr. Waites and is considering qualified internal and external candidates.

Waites, 59, has led Finning International as president and chief executive
officer since May of 2008. Prior to this, he held the position of executive
vice-president and chief financial officer of Finning International effective May
1, 2006.

Related Link
www.finning.com


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