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Clearwater Seafoods CEO takes on chairman of board role, announces retirement plans as CEO

Attention Business/Financial Editors:

Clearwater Seafoods CEO takes on chairman of board role, announces retirement
plans as CEO 

/Not for release over US newswire services/

HALIFAX, Jan. 23 /CNW/ - (TSX:CLR.UN, CLR.DB, CLR.DB.A): Today, the board of CS
ManPar Inc, the Managing Partner of Clearwater Seafoods Limited Partnership
(“Clearwater”), announced that Colin MacDonald, the current Chief Executive
Officer, will assume the position of Chairman of the Board effective
immediately, replacing the former Chair, John Risley, who will remain as a
director. 

Concurrently Mr. MacDonald announced that he will lead a committee of the Board
to begin a formal review and search for a Chief Executive Officer.  It is his
intention to retire from the role of Chief Executive Officer once a suitable
candidate is found. 

Colin co-founded Clearwater in 1976 and in 2002 when Clearwater Seafoods Income
Fund completed its initial public offering on the Toronto Stock Exchange and
used the proceeds to purchase an interest in Clearwater, he became Chief
Executive Officer of CS Manpar Inc. "Colin and I have worked together at Clearwater for over 30 years and both the
Board of Directors and I are pleased that he has agreed to take on the Chair
role to ensure the continued success of Clearwater," said John Risley, outgoing
Chairman of the Board of CS ManPar Inc. 

Colin MacDonald, Chairman and CEO commented "Clearwater has been my passion for
over 30 years now, I look forward to assuming this role and I will be a very
active Chairman to ensure that the new CEO will continue to benefit from the
founders experience and belief in the business model.  The past few years have
been challenging but the company's strong underlying business model based on
sustainable harvesting and resource management, creating value for our
customers, developing our people and embracing a culture of innovation have
served us well and has positioned us well for the future.  With both John and I
recently turning 60 our sense of responsibility to the business to ensure a
successful succession  has led us to give more focus to ensuring the company is
well positioned for the future with strong leaders, a new Chief Executive
Officer is a key part of that plan.” 

About Clearwater

Clearwater is recognized for its consistent quality, wide diversity and
reliable delivery of premium seafood, including scallops, lobster, clams,
coldwater shrimp, crab and ground fish. 

Since its founding in 1976, Clearwater has invested in science, people,
technology, resource ownership and resource management to preserve and grow its
seafood resource. This commitment has allowed it to remain a leader in the
global seafood market. 

For further information: Robert Wight, Chief Financial Officer, Clearwater,
(902) 457-2369; Tyrone Cotie, Director of Corporate Finance and Investor
Relations, Clearwater, (902) 457-8181. 

Attachments:

clearwater seafoods jan 23, 2009.pdf