FEDERAL WAY, Wash.--April 15, 2003-- Weyerhaeuser Company today announced that Richard J. Taggart has been elected executive vice president and chief financial officer (CFO) by the board of directors effective immediately. Taggart, 60, reports to Steven R. Rogel, chairman, president and chief executive officer, and succeeds William C. Stivers, 65. Stivers, who reaches the company's mandatory retirement age in June after 33 years with Weyerhaeuser, has served as the company's CFO since 1990. A 29-year veteran of the forest products industry, Taggart has worked for Weyerhaeuser for 23 years during which time he has held a number of business, technical and financial positions. He started his career with Weyerhaeuser in 1974 as a project manager in the Wood Products business. After leaving Weyerhaeuser in 1985, he became the head of finance for the U.S. subsidiary of CANFOR, a Canadian forest products company. Since rejoining Weyerhaeuser in 1990, Taggart has served as finance and planning director for Engineered Fiber Products; vice president, Investor Relations; vice president and treasurer; and vice president, Finance. Taggart also served on the MacMillan Bloedel, Trus Joist and Willamette acquisition teams. Taggart holds a masters of science in Agricultural Economics from the University of Wyoming and is a graduate of the University of Washington Executive Management Program. Prior to joining Weyerhaeuser, he had been an officer in the U.S. Navy assigned to the Strategic Analysis Support Group supporting war game analysis for the Joint Chiefs of Staff and worked in operation research for Ford Motor Company.