Jun 27, 2008. /Lesprom.com/. Potlatch Corporation has announced that Gordon L. Jones has accepted an offer to serve as president and CEO for the proposed spin-off of the company's pulp-based businesses. On April 17, 2008, the Potlatch board of directors authorized management to evaluate a potential tax-free spin-off of the Company's pulp-based businesses. The spin-off would create two stand-alone, publicly-traded entities: a timber REIT, which is a verified forest practices leader with 1.7 million acres of forestland, and a pulp-based manufacturing company that would include the Company's consumer products facilities in Lewiston, Idaho, Las Vegas, and Elwood, Illinois, and its pulp and paperboard facilities in Lewiston, Idaho, and Cypress Bend, Arkansas. If the Potlatch Board approves moving forward with the proposed spin-off, Mr. Jones will lead the spin-off business, which had revenues of approximately $1.2 billion in 2007. Gordon Jones has both broad and deep industry experience that will enable him to lead the proposed spin-off from initiation to growing the business over time, said Michael J. Covey, chairman, president, and CEO of Potlatch. Our ability to attract someone of Gordon's capabilities as the CEO and president of the spin-off company is another key step for obtaining board approval of the spin-off. Potlatch owns approximately 1.7 million acres of forestland in Arkansas, Idaho, Minnesota, and Wisconsin, and operates 12 manufacturing facilities that produce lumber and panel products and bleached pulp products, including paperboard and tissue.