Pacific Lumber pres. Robert Manne Resigns
Five years after replacing John Campbell as president of Pacific Lumber, PL president and CEO Robert Manne is leaving Maxxam/PL. Campbell was with PL when Maxxam took over the company in 1985, and things have certainly changed since then. The past five years have been a time of major change, as Maxxam clearly is designing their end game for Pacific Lumber and their holdings of redwood forest on the north coast. Particularly since major refinancing in 1998, keeping the purchase debt at extraordinarily high levels, and the Headwaters Deal in 1999, with most of the cash from that lucrative deal …