CEO Andy
Silvernail elected Chairman of the Board of
Directors
Mark Sutton to
retire from the Board of Directors September
30, 2024
MEMPHIS,
Tenn., Sept. 10, 2024 /PRNewswire/ --
International Paper (NYSE: IP) today announced that its board
of directors elected Andy Silvernail
as Chairman of the International Paper Board of Directors in
addition to his role as Chief Executive Officer (CEO), effective
October 1, 2024. Mark Sutton, who has continued to serve in the
role of Chairman of the Board since retiring as CEO in May, will
retire from the Board on September 30,
2024.
International Paper Lead Director Chris Connor said, "On behalf of the Board of
Directors, I'd like to thank Mark for his many years of service to
IP and for his leadership as Chairman and CEO. During his tenure,
he strengthened the company's balance sheet and focused the
portfolio. He leaves behind a strong legacy, and we wish him and
his family all the best."
"Additionally," Connor added, "we are pleased that Andy is
taking on the role of Chairman of the Board. In just four months
with IP, he is off to a terrific start and has the team aligned on
implementing our strategy. Andy has a clear plan for
unlocking the company's potential to drive results and achieve
excellence for our employees, customers and shareholders."
Silvernail joined International Paper as CEO in May 2024. He has two decades of experience
leading global companies in the manufacturing and technology
sectors. He previously worked at KKR & Co., Inc., a global
investment firm, where he served as an executive advisor.
Silvernail held the role of Chairman and CEO of Madison Industries,
one of the world's largest privately held companies. Prior to that,
Silvernail served as Chairman and CEO of IDEX Corporation from 2011
to 2020. Employee engagement reached best-in-class performance and
total shareholder return grew by more than 500% during his tenure
at IDEX. Silvernail previously held executive positions at
Rexnord Industries, Newell
Rubbermaid and Danaher Corporation. He currently serves on
the Board of Directors of Stryker Corporation.
For more information, please
visit: https://www.internationalpaper.com/leader
About International Paper
International Paper (NYSE: IP) is a global producer of sustainable
packaging, pulp and other fiber-based products, and one of the
world's largest recyclers. Headquartered in Memphis, Tenn., we employ approximately 39,000
colleagues globally who are committed to creating what's next. We
serve customers worldwide, with manufacturing operations in
North America, Europe, Latin
America and Africa. Net
sales for 2023 were $18.9 billion.
Additional information can be found by
visiting internationalpaper.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/international-paper-makes-leadership-announcement-302244291.html
SOURCE International Paper