Mr. Pierre Monahan has been a corporate director and business management consultant since 2008. Previously, he was President of Bowater Canadian Forest Products Inc. and Executive Vice President, Building Products at Bowater Inc. until his departure in 2007. Mr. Monahan received his bachelor’s degree in commerce from HEC Montréal in 1968. Over the course of his career, he has held a number of executive positions in the forestry industry. He has also occupied financial management positions in major corporations, including Vice President, Finance and Treasury, and Executive Vice President, Business Expansion, at Tembec Inc.; Vice President and CFO of Domtar Inc. and President and CEO of a spinoff corporation, Alliance Forest Products Inc. Mr. Monahan has sat on the boards of the Forest Products Association of Canada, the Pulp and Paper Research Institute of Canada (Paprican), the Forintek Canada Wood Products Research Institute and the FERIC Forestry Research Institute, and has served as chairman of the board of each of these organizations. He was also a member of the boards of Uniboard Canada Inc., Équipements Comact Inc. and Fortress Paper Ltd, as well as of AXA Insurance (Canada), for which he served as chairman of the audit committee and a member of the investment committee until Intact Insurance Company took over the company in June 2011. In 2004, Mr. Monahan was awarded an honorary doctorate in forestry science from Université Laval, Québec, and in 2006, he received the Pulp and Paper Excellence Award (PCPP) from the Québec Forest Industry Council. Mr. Monahan is also chairman of the boards of Valener Inc. and its subsidiaries, Gestion Solifor inc. and the Centraide of Greater Montreal Foundation.