Mr. Monahan has been a corporate director and business management consultant since January, 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 the École des hautes études commerciales de Montréal in 1968. In the course of his career, he held a number of management positions in the forestry industry. He also occupied financial management positions in major corporations, including Vice President, Finance and Treasury, and Executive Vice President, Business Expansion, with Tembec Inc.; Vice President and CFO of Domtar Inc. and President and CEO of a spin-off company, Produits forestiers Alliance inc. Mr. Monahan sat on the boards of directors of the Forest Products Association of Canada; the Pulp and Paper Research Institute of Canada and/or Paprican; the Forintek Canada Wood Products Research Institute and the FERIC Forestry Research Institute, and served as chairman of the board in each of these organizations.

He is also a member of the board of directors of AXA Insurance (Canada) as well as chairman of its audit committee and a member of its investment committee. In 2004, Mr. Monahan was awarded an Honoris Causa doctorate in forestry science from Université Laval, Québec, and in 2006 he received the Pulp and Paper Excellence Award (PCPP) from the Quebec Forest Industry Council.