FORT MILL, S.C.--(BUSINESS WIRE)--Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced that Michael D. Garcia, Domtar’s pulp and paper division president, was appointed to the board of directors of the Federal Reserve Bank of Richmond, Charlotte Branch, for a two-year term, effective January 1, 2017. The Federal Reserve Bank of Richmond is part of the nation’s central bank that sets monetary policy, supervises and regulates member financial institutions and provides an array of financial services.
“I’m honored to serve the Federal Reserve Bank to help strengthen and stabilize the economy and help support local communities,” said Garcia.
Garcia will be serving in the Fifth Federal Reserve Richmond District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. The Fifth District’s leaders contribute to the formulation of national monetary policy, gather and analyze regional economic data, and supervise and regulate financial institutions headquartered in its area.
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and absorbent hygiene products. With approximately 10,000 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. Domtar’s annual sales are approximately $5.3 billion and its common stock is traded on the New York and Toronto Stock Exchanges. Domtar’s principal executive office is in Fort Mill, South Carolina. To learn more, visit www.domtar.com.