Clearwater Seafoods Incorporated Announces Change in Board of Directors
HALIFAX, Oct. 17, 2011 /CNW/ - Clearwater Seafoods Incorporated (CLR) (CLR.DB.A) (CLR.DB.B) (the 'Company' or Clearwater') announced today that Bernard Wilson has retired as a member of the board of directors of the Company (the 'Board'), effective October 14, 2011 to pursue an increasingly busy schedule managing his various interests. The Board wishes to express its appreciation to Mr. Wilson for his four and a half years as a Director, Trustee and as Chair of the Audit Committee.
Effective immediately, Larry Hood has been appointed to the Board to fill this vacancy and in addition, Mr. Hood will replace Mr. Wilson as the chair of the Company's Audit Committee. Mr. Hood is a former partner with KPMG LLP where he served a number of clients including several in the seafood industry over a career which spanned 35 years.
Colin Mac Donald, Chairman of the board of Clearwater, announced: 'We are very pleased to have Mr. Hood join Clearwater's board of directors. Larry's extensive industry and financial expertise will be of great benefit to Clearwater and its strategic efforts.'
Mr. MacDonald, continued 'I wish to also express my sincere appreciation for the high level of professionalism and business acumen that Bernie Wilson bought to the Board and the Audit Committee as well as the enormous time and energy he devoted to the affairs of Clearwater. Bernie will be missed but thankfully will remain both a friend and a colleague on whom the Board can call for his advice and guidance in the future.'
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking information and statements are identified by words or phrases such as 'anticipates', 'expects', 'believes', 'estimates', 'intends', 'could', 'may', 'plans', 'predicts', 'projects', 'will', 'would', 'foresees', 'remain confident that' and other similar expressions or the negative of these terms. Forward-looking statements included in this press release are made based on management's belief as well as assumptions made by, and information currently available to, management of the Company. While such beliefs and assumptions are considered reasonable by the Company, they are inherently subject to significant business, economic and competitive uncertainties and contingencies. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, the Company cannot assure Shareholders that actual results will be consistent with these forward-looking statements, and, except as required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Clearwater
Clearwater is recognized for its consistent quality, wide diversity and reliable delivery of premium wild, eco-labeled seafood, including scallops, lobster, clams, coldwater shrimp, crab and groundfish.
Since its founding in 1976, Clearwater has invested in science, people, technology, resource ownership and resource management to sustain and grow its seafood resource. This commitment has allowed it to remain a leader in the global seafood market.
Clearwater Seafoods Incorporated
CONTACT: Robert Wight, Chief Financial Officer, Clearwater, (902) 457-2369
Tyrone Cotie, Treasurer, Clearwater, (902) 457-8181
