MEMPHIS, Tenn., Aug. 9, 2021 /PRNewswire/ -- International
Paper (NYSE: IP) is proud to announce Sylvamo Corporation as the
name of its global papers spinoff, with headquarters planned for
The name Sylvamo speaks to the company's connection to trees and
highlights its role as a steward of sustainable
forests. Sylvamo combines the Latin words for forest, "silva,"
and love, "amo." Company leaders translate this unique
combination as "love of forests."
Sylvamo, currently a subsidiary of International Paper, will be
governed by a nine-member board with eight independent directors.
Jean-Michel Ribiéras, senior vice president, Global Papers, will
serve as the company's chairman and chief executive officer.
Each director will bring significant talent and experience,
including expertise in basic materials, spinoffs, finance,
strategy, human resources, international operations, legal and
senior leadership roles.
Askren spent the majority of his 36-year career at
HNI Corporation, where he served as chairman, president and chief
executive officer. He also serves on the boards of Allison
Transmission Holdings and Armstrong World Industries.
Breves currently serves as senior vice president and chief
financial officer of United States Steel (NYSE: X). During her
43-year career, she served in a variety of senior executive roles
and has extensive experience in procurement, supply chain,
manufacturing and business transformation.
Jeanmarie Desmond retired from DuPont de
Nemours, Inc. in 2020 after a 31-year career. She most recently
served as executive vice president and chief financial officer.
Desmond also serves on the boards of IPG Photonics and Trinseo.
Gottung retired from Kimberly-Clark Corporation in
2017 after a 36-year career. She served as chief human resources
officer for 15 years. Gottung also serves on the board of
Johnson spent a substantial portion of her 36-year
career with Hanesbrands Inc. before retiring this year. She served
as chief administrative officer, general counsel and corporate
secretary, and in other executive leadership roles. Johnson also
serves on the boards of Global Payments, Inc. and Regions Financial
Petratis currently serves as chairman, president
and chief executive officer of Allegion plc (NYSE: ALLE), where he
led the company's spinoff in 2013. He has extensive experience in
manufacturing and operations, global commercial markets and
strategy development, serving in a variety of leadership positions
throughout his 40-year career.
currently serves as senior vice president, Global Papers, at
International Paper, where he spent the majority of his
35-year paper and packaging career. He will serve as Sylvamo's
chairman and chief executive officer.
Rollinson currently serves as president and chief
executive officer of Kinross Gold
(TSX: K), where he also serves on the company's board. He has
extensive international experience in mining, forestry, power and
utilities and industrial sectors during his 30-year career.
Zallie currently serves as president and chief executive
officer of Ingredion (NYSE: INGR), where he also serves on the
company's board. He has extensive operating, manufacturing and
leadership experience throughout his 38-year career.
"We believe it is critical to have a world-class board of
directors as we set off on our mission to transform renewable
resources into papers that people depend on for education,
communication and entertainment," Ribiéras said. "We are proud of
the talented, experienced and diverse team that will guide us as an
In December 2020, International
Paper announced plans to spin its global papers business into a
separate, publicly traded company in late 2021. The spinoff is
subject to final approval by the International Paper board of
Sylvamo will employ approximately 7,000 colleagues in
Europe, Latin America and North America.
About International Paper
International Paper (NYSE: IP) is a leading global producer of
renewable fiber-based packaging, pulp and paper products with
manufacturing operations in North
America, Latin America,
Europe, North Africa and Russia. We produce corrugated packaging
products that protect and promote goods, and enable worldwide
commerce; pulp for diapers, tissue and other personal hygiene
products that promote health and wellness; and papers that
facilitate education and communication. We are headquartered in
Memphis, Tennessee, employ
approximately 48,000 colleagues and serve more than 25,000
customers in 150 countries. Net sales for 2020 were $21 billion. For more information about
International Paper, our products and global citizenship efforts,
please visit internationalpaper.com.
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SOURCE International Paper