Boise Cascade announced the transition of its CFO and treasurer position. Current CFO and treasurer Wayne Rancourt will retire effective May 14, 2021. The company’s board of directors has promoted Kelly Hibbs, currently the vice president and controller, to the role of senior vice president, CFO, and treasurer, effective upon Rancourt’s retirement.
“Wayne is an accomplished leader in the industry and the investor community,” Tom Carlile, Boise Cascade’s board chair, said in a news release. “He leaves a legacy of building a solid financial foundation of our company’s future endeavors, as well as delivering strong returns for our shareholders.”
Rancourt joined Boise Cascade in 1983 and has served in the role of CFO and treasurer since 2009. According to the company, Rancourt has been an instrumental part of the business model changes, including the expansion of Boise Cascade’s engineered wood products manufacturing and nationwide distribution network in the late 1990s to Boise Cascade’s IPO launch in 2013.
“Wayne is a compassionate leader and a fantastic relationship-builder within our company and the local community,” Boise Cascade CEO Nate Jorgensen said. “I want to thank him for his contributions and years of service. He is a valued colleague and we all wish him the very best in retirement and the next chapter of his adventures and community impact.”
Hibbs joined the company in 1996 and was promoted to his current role in 2011.
“Kelly has a strong business acumen and knowledge of financial reporting and corporate governance,” Jorgensen said. “We have been intentionally planning for this succession and I expect a smooth transition.”
Boise, Idaho-based Boise Cascade products engineered wood products and plywood in North America and is a wholesale distributor of building products.
