FEDERAL WAY, Wash., Jan. 18 /PRNewswire-FirstCall/ -- Weyerhaeuser Company today announced the election of Debra A. Cafaro, 49, to the company's board of directors effective Feb. 15. Cafaro will stand for election at the 2007 Weyerhaeuser annual meeting of shareholders on April 19.
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Cafaro is chairman, president and chief executive officer of Ventas, Inc. , a leading health care real estate investment trust (REIT). She also serves on the executive committee of the board of governors of the National Association of Real Estate Investment Trusts (NAREIT).
The Wall Street Journal profiled Cafaro in 2004 as one of the "50 Women to Watch" and she was voted one of the "Best of the Best" REIT CEOs by a poll of institutional investors in 2003.
"We are pleased that Debra has accepted our invitation to join our board of directors," said Steven R. Rogel, chairman, president and chief executive officer. "Her experience in real estate and broad business knowledge will prove valuable as she works with the rest of our directors to shape Weyerhaeuser's long-term strategic direction. In my conversations with her, Debra has impressed me with her multi-dimensional approach to creating shareholder value and I look forward to her contributions as a director."
During recent discussions between Weyerhaeuser and Franklin Mutual Advisers, a large shareholder, Cafaro's name emerged as a possible candidate to serve on Weyerhaeuser's board.
Prior to joining Ventas in 1999, Cafaro served as president and director of Ambassador Apartments, Inc., a multifamily REIT. She previously practiced real estate, corporate and finance law for 13 years at the firm of Barack Ferrazzano in Chicago, where she was a founding member. She also taught real estate transactions and finance from 1988 to 1992 as an adjunct professor at Northwestern University Law School. Cafaro earlier served as a judicial clerk to the Hon. J. Dickson Phillips, U.S. Court of Appeals for the Fourth Circuit.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2005, sales were $22.6 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .
For more information contact:
Media -- Bruce Amundson (253) 924-3047
Analysts -- Kathryn McAuley (253) 924-2058
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