Weyerhaeuser appoints new chief accounting officer

In a recent filing with the SEC, Weyerhaeuser Co., a $21.5 billion market cap specialized REIT, announced the appointment of a new vice president and chief accounting officer. Alex G. Whitney, 37, will assume the role effective this Monday, following his tenure as the company’s vice president and controller. According to InvestingPro data, Weyerhaeuser maintains strong financial health with a Fair overall rating.

Whitney, who joined Weyerhaeuser in September 2019, brings experience from his time at KPMG LLP, where he served as a senior manager. His credentials include being a certified public accountant in the State of Washington. Prior to this promotion, Whitney’s 2024 compensation included a base salary of $257,500, a potential annual cash incentive of 35% of his salary, and long-term incentives valued at $121,000 in restricted stock units, along with standard company benefits. His compensation for 2025 is expected to remain largely in line with the previous year. The company has demonstrated strong shareholder commitment, maintaining dividend payments for 55 consecutive years, with a current yield of 2.8%.

David Wold, who has been acting as the principal accounting officer since May 17, 2019, in addition to his role as senior vice president and chief financial officer, will step down from the accounting position as Whitney steps in.

The move comes as part of Weyerhaeuser’s ongoing corporate governance and management adjustments. Weyerhaeuser, headquartered in Seattle, Washington, operates within the real estate investment trusts industry and is known for its contributions to the Real Estate & Construction sector.

Weyerhaeuser’s common stock is traded on the New York Stock Exchange under the ticker symbol (NYSE:WY). As per the company’s latest SEC filing, this leadership transition does not signal any immediate changes to the company’s financial strategy or operations.

This announcement is based on a press release statement and reflects the company’s commitment to maintaining a robust management team to steer its financial and operational activities.

In other recent news, Weyerhaeuser Company reported fourth-quarter 2024 earnings that exceeded analyst expectations, with an adjusted earnings per share of $0.11 compared to the anticipated $0.05. However, the company’s revenue slightly missed projections, coming in at $1.71 billion against the expected $1.72 billion. Despite these mixed results, Weyerhaeuser’s leadership emphasized their focus on operational excellence and disciplined capital allocation throughout the year. Following these earnings, Raymond (NSE:RYMD) James analyst Buck Horne raised the price target for Weyerhaeuser to $35, maintaining an Outperform rating due to strong fourth-quarter results and a revised outlook on commodity prices. DA Davidson also maintained a Buy rating with a $36 price target, highlighting the company’s favorable position to exceed its Non-Timberland Segment EBITDA goal for 2025. The return to profitability in Weyerhaeuser’s lumber division was noted as significant, with potential for further gains anticipated. These developments reflect Weyerhaeuser’s strategic positioning amid evolving market conditions and analyst expectations.

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