NewPage Elects Galbato Chairman of the Board

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NewPage Corp., Miamisburg, Ohio, USA, this week announced the election of Chan W. Galbato as chairman of its board of directors. Galbato takes over the chairman role from Robert L. Nardelli, who was elected chairman this past June 11, and who will remain on the board as a director.

Nardelli, who also serves as CEO of Cerberus Operations and Advisory Co., an affiliate of the majority owner of NewPage, said that, "Chan's appointment as chairman marks the end of a three-month transition during which the board changed several top executives, including the CEO, implemented aggressive cost-reduction actions, and initiated efforts to improve customer service and profit margins. With the recent appointment of George Martin as president and CEO, and now the addition of Chan as chairman, we are confident that we have the right team in place to execute our business plan."

Galbato is a senior operating executive of COAC and a director of the Brady Corp. Prior to COAC, he owned and managed CWG Hillside Investments a consulting business providing operational and strategic turnaround expertise to CEOs of portfolio-based companies. Before that, he was president and CEO of the Controls Group of businesses for Invensys plc. He was president of Home Services as well as president of the commercial distribution arm of companies for The Home Depot. In addition, Galbato served as president and CEO of Armstrong Floor products and CEO of Choice Parts LLC, a joint-venture auto parts locator and catalog business. Earlier in his career, he spent 14 years with General Electric Co., holding several leadership and finance positions within their various industrial divisions (including Transportation Systems, Aircraft Engines, Medical Systems, and Appliances), as well as serving as president and CEO of Coregis Insurance Co., a G.E. Capital company.