Conifex Timber Management

Management criteria checks 2/4

Conifex Timber's CEO is Ken Shields, appointed in Jun 2010, has a tenure of 14.42 years. total yearly compensation is CA$1.04M, comprised of 48.2% salary and 51.8% bonuses, including company stock and options. directly owns 4.43% of the company’s shares, worth €542.87K. The average tenure of the management team and the board of directors is 1.5 years and 12.6 years respectively.

Key information

Ken Shields

Chief executive officer

CA$1.0m

Total compensation

CEO salary percentage	48.2%
CEO tenure	14.4yrs
CEO ownership	4.4%
Management average tenure	1.5yrs
Board average tenure	12.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ken Shields's remuneration changed compared to Conifex Timber's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-CA$23m
Jun 30 2024	n/a	n/a	-CA$28m
Mar 31 2024	n/a	n/a	-CA$27m
Dec 31 2023	CA$1m	CA$500k	-CA$31m
Sep 30 2023	n/a	n/a	-CA$25m
Jun 30 2023	n/a	n/a	-CA$16m
Mar 31 2023	n/a	n/a	CA$5m
Dec 31 2022	CA$2m	CA$500k	CA$24m
Sep 30 2022	n/a	n/a	CA$22m
Jun 30 2022	n/a	n/a	CA$20m
Mar 31 2022	n/a	n/a	CA$34m
Dec 31 2021	CA$2m	CA$500k	CA$27m
Sep 30 2021	n/a	n/a	CA$32m
Jun 30 2021	n/a	n/a	CA$35m
Mar 31 2021	n/a	n/a	CA$6m
Dec 31 2020	CA$1m	CA$512k	-CA$7m
Sep 30 2020	n/a	n/a	-CA$19m
Jun 30 2020	n/a	n/a	-CA$33m
Mar 31 2020	n/a	n/a	-CA$31m
Dec 31 2019	CA$1m	CA$646k	-CA$30m
Sep 30 2019	n/a	n/a	-CA$43m
Jun 30 2019	n/a	n/a	-CA$25m
Mar 31 2019	n/a	n/a	-CA$16m
Dec 31 2018	CA$1m	CA$544k	-CA$7m
Sep 30 2018	n/a	n/a	CA$23m
Jun 30 2018	n/a	n/a	CA$23m
Mar 31 2018	n/a	n/a	CA$20m
Dec 31 2017	CA$1m	CA$450k	CA$17m

Compensation vs Market: Ken's total compensation ($USD740.49K) is above average for companies of similar size in the German market ($USD475.63K).

Compensation vs Earnings: Ken's compensation has been consistent with company performance over the past year.

CEO

Ken Shields (75 yo)

14.4yrs

Tenure

CA$1,036,855

Compensation

Mr. Kenneth A. Shields, also known as Ken, serves as Chairman at Conifex Timber Inc. and has been its Director and Chief Executive Officer since June 3, 2010 and served as President. He has served as Chair...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Kenneth Shields	Chairman & CEO	14.4yrs	CA$1.04m	4.43% € 542.9k
Andrew McLellan	President & COO	1.5yrs	CA$459.70k	0.46% € 56.2k
Trevor Pruden	Chief Financial Officer	1.4yrs	CA$393.58k	0.11% € 13.4k

1.5yrs

Average Tenure

Experienced Management: 5CA's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Kenneth Shields	Chairman & CEO	14.4yrs	CA$1.04m	4.43% € 542.9k
Michael Costello	Lead Independent Director	12.6yrs	CA$115.50k	0.30% € 36.6k
Charles Miller	Independent Director	6.3yrs	CA$81.00k	0.15% € 18.8k
Janine North	Independent Director	7.8yrs	CA$91.00k	0.23% € 28.8k
David Roberts	Independent Director	14.5yrs	CA$88.50k	1.52% € 186.4k

12.6yrs

Average Tenure

73yo

Average Age

Experienced Board: 5CA's board of directors are seasoned and experienced ( 12.6 years average tenure).

Conifex Timber Management

Management criteria checks 2/4

Key information

Recent management updates

Conifex Timber Inc., Annual General Meeting, Sep 25, 2024

Insufficient new directors

Conifex Timber Inc. Promotes Andrew McLellan to President and Chief Operating Officer

Insufficient new directors

Insufficient new directors

Insufficient new directors

Recent updates

Third quarter 2024 earnings released: CA$0.09 loss per share (vs CA$0.20 loss in 3Q 2023)

Conifex Timber Inc. to Report Q3, 2024 Results on Nov 12, 2024

Second quarter 2024 earnings released: CA$0.24 loss per share (vs CA$0.23 loss in 2Q 2023)

New major risk - Market cap size

Conifex Timber Inc. to Report Q2, 2024 Results on Aug 13, 2024

Conifex Timber Inc., Annual General Meeting, Sep 25, 2024

New minor risk - Shareholder dilution

Now 29% overvalued

New major risk - Market cap size

First quarter 2024 earnings released: CA$0.11 loss per share (vs CA$0.20 loss in 1Q 2023)

Conifex Timber Inc. to Report Q1, 2024 Results on May 09, 2024

Full year 2023 earnings released: CA$0.77 loss per share (vs CA$0.61 profit in FY 2022)

Conifex Timber Inc. to Report Q4, 2023 Results on Mar 27, 2024

Third quarter 2023 earnings released: CA$0.20 loss per share (vs CA$0.023 profit in 3Q 2022)

New minor risk - Share price stability

Conifex Timber Inc. to Report Q3, 2023 Results on Nov 07, 2023

Insufficient new directors

Conifex Timber Inc. Provides Operating Guidance for the Year 2023

Conifex Timber Inc. to Report Q2, 2023 Results on Aug 09, 2023

Conifex Timber Inc. Takes Unscheduled Downtime for Four Weeks at Mackenzie Lumber Production Facility

First quarter 2023 earnings released: CA$0.20 loss per share (vs CA$0.28 profit in 1Q 2022)

Conifex Timber Inc. Promotes Andrew McLellan to President and Chief Operating Officer

Insufficient new directors

Conifex Timber Inc. Announces Resumption of Power Plant Operations

Conifex Timber Inc. to Report Q4, 2022 Results on Mar 08, 2023

Investor sentiment improves as stock rises 15%

Insufficient new directors

Third quarter 2022 earnings released: EPS: CA$0.02 (vs CA$0.019 loss in 3Q 2021)

Conifex Timber Inc. Provides Earnings Guidance for the Fourth Quarter of 2022

Conifex Timber Inc. Provides Earnings Guidance for the Fourth Quarter of 2022

Insufficient new directors

Conifex Timber Inc. to Report Q3, 2022 Results on Nov 08, 2022

Conifex Timber Inc. Announces Delayed Restart At Power Facility

Conifex Timber Inc. to Report Q2, 2022 Results on Aug 09, 2022

Investor sentiment improved over the past week

Conifex Timber Inc. Declares a One-Time Special Cash Dividend, Payable on or Before August 8, 2022

First quarter 2022 earnings released: EPS: CA$0.28 (vs CA$0.096 in 1Q 2021)

Insufficient new directors

Conifex Timber Inc., Annual General Meeting, Jun 21, 2022

Conifex Timber Inc. to Report Q1, 2022 Results on May 10, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Conifex Timber Inc. to Report Q4, 2021 Results on Mar 08, 2022

Investor sentiment improved over the past week

Third quarter 2021 earnings released: CA$0.02 loss per share (vs CA$0.042 profit in 3Q 2020)

Investor sentiment improved over the past week

Second quarter 2021 earnings released: EPS CA$0.56 (vs CA$0.057 loss in 2Q 2020)

Investor sentiment deteriorated over the past week

First quarter 2021 earnings released: EPS CA$0.10 (vs CA$0.17 loss in 1Q 2020)

Conifex Timber Inc. Names Winny Tang as Chief Financial Officer, Effective March 16, 2021

Conifex Timber Inc. Provides an Update to the Resumption of Operations at its Power Plant in Mackenzie, British Columbia

Conifex Timber Inc. to Report Q4, 2020 Results on Mar 02, 2021

New 90-day high: €0.96

Third quarter 2020 earnings released: EPS CA$0.039

Conifex Timber Inc. to Report Q3, 2020 Results on Nov 10, 2020

Conifex Timber Inc. to Report Q2, 2020 Results on Aug 12, 2020

Conifex Timber Inc. Plans to Recommence Operations Following its Temporary Curtailment at its Mackenzie, British Columbia

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age