Buckeye Announces President Resignation, Restructuring of Management Team
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Buckeye Technologies Inc., Memphis, Tenn., USA, reports that its president and COO Kristopher J. Matula intends to resign from the company effective August 31, to focus on other interests. Matula will resign from Buckeye's board of directors on August 7.
In conjunction with the Matula's announced retirement, the company said that it will restructure its executive management team in support of its previously announced decisions to close or sell several underperforming or non-core assets.
John B. Crowe, chairman and CEO, noted that Matula "has made many significant contributions to the progress and development of Buckeye in his 18 years of dedicated service. He has been a key member of the leadership teams that moved the company forward from the initial IPO in 1995 to our current record level performance. He has been a top contributor and has served Buckeye with distinction. We wish Kris and his family the very best in their future endeavors."
Matula said that "it has been an honor to be part of the Buckeye team for the past 18 years. With our business well positioned for the future and a strong leadership team in place, the timing is right for me to retire from Buckeye and focus on other personal interests."
In regard to the restructuring, Buckeye's board of directors approved the following promotions that became effective July 24: Steven G. Dean, SVP and CFO was promoted to EVP and CFO; Douglas L. Dowdell, SVP, Specialty Fibers, was promoted to EVP, Specialty Fibers; and Terrence M. Reed, VP, Human Resources, was promoted to SVP, Human Resources.
Dean joined Buckeye in 1999, and since that time has held positions of increasing responsibility in the area of finance and accounting. He has served as the company's CFO since 2006. In connection with his promotion, Dean will assume increased responsibilities in the area of information technology.
Dowdell joined Buckeye in 1988 and has played leadership roles in the company's Nonwovens division and in the Specialty Fibers division. He has led the Specialty Fibers division since 2006 and will assume increased operational responsibilities.
Reed joined Buckeye in 1995 and has held key leadership positions in Manufacturing and Human Resources. He has served as VP, Human Resources since 2006 and will assume increased responsibilities in the area of human resource development.
Buckeye currently operates facilities in the U.S., Germany, and Canada. Its products are sold worldwide to makers of consumer and industrial goods.
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