Canadian Paper Co. Execs Depart In Wake Of Hedge Fund Move

Jan 16 2007 | 10:06am ET

The leaders of Canadian paper producer Catalyst Paper are making way for Third Avenue Management.

The New York-based hedge fund hiked its stake in the Vancouver, British Columbia-based company last year, triggering golden parachutes of C$4.8 million and C$1.6 million, respectively, for outgoing CEO Russel Horner and CFO Ralph Leverton. Last month, four Third Avenue-picked directors joined Catalyst’s board.

Catalyst’s newly-constituted board will choose their successors at or before its March 28 annual meeting.

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Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…