IP Announces Faraci Retirement, Sutton as New CEO, Other Moves

International Paper Co., Memphis, Tenn., USA, this week announced that its board of directors has elected Mark S. Sutton CEO, effective November 1, and chairman of the board effective January 1, 2015. Sutton currently serves as president and COO responsible for leading and running the company's global operations. Prior to his current role, he was SVP, industrial packaging. 

 

"Mark Sutton's election as CEO and chairman and the other changes we are announcing today reaffirm International Paper's ongoing commitment to developing a strong, deep bench that will lead the company to an even more successful future," said CEO and Chairman John V. Faraci (top photo). "Under Mark's leadership, I am confident that International Paper's best days are ahead." (Sutton is in the bottom photo). 

  

The company also announced the retirement of Faraci, who has served as CEO and chairman of the board of directors since November 2003. Faraci led the transformation of IP that began in 2005, when the company included more than a dozen different businesses, from chemicals to real estate, to forestry. IP sold its diverse assets and set a course to focus on its two core businesses—packaging and paper. Today, the company is strategically well-positioned and competing in attractive growth markets around the world. Faraci served in roles including president, EVP, and CFO before being named to the company's top job. He will remain CEO until October 31 and chairman until December 31, and will serve as a special advisor until he retires Feb. 28, 2015. 

 

"The International Paper board of directors would like to thank John Faraci for his 40 years of dedicated service, including his leadership over the past decade as chairman and CEO," said J. Steven Whisler, presiding director. "John's personal integrity, vision, and keen focus on value creation helped transform International Paper into a global packaging and paper leader, and his many contributions will positively impact the company and influence the industry for years to come."

 

The company also announced the following moves:

•  Thomas G. Kadien was named SVP, human resources, communications, and global government relations along with current responsibilities for supply chain and IP India, effective November 1, and will continue to report to Sutton. Currently, he is SVP, N.A. consumer packaging, with responsibilities for operations in India and China. Kadien has been with IP since 1978. 
• Paul J. Karre, SVP, human resources and communications, will retire following a period of transition. After working in a variety of corporate and global business human resource roles, he was appointed VP, human resources, in July 2000. Karre became SVP, human resources and communications, in 2009. He has been with the company since 1974.
• Timothy S. Nicholls was named SVP, industrial packaging, effective November 1, and will continue to report to Sutton. Currently, he is SVP, printing and communications papers–the Americas. Nicholls' previous positions included SVP and CFO, VP of finance, and VP and CFO, IP Europe. He has been with IP since 1991.
• William Hoel, who was acting SVP of industrial packaging, will resume his role as SVP, Container the Americas, reporting to Nicholls.  
• W. Michael Amick Jr., was elected SVP, N.A. papers, pulp, and consumer packaging, effective November 1, and will report to Sutton. Currently he serves as IP VP and president, IP India, and as executive chairman, International Paper APPM Limited. Prior to his role in India, Amick was VP and GM for the coated paperboard business. He has been with IP since 1990.
• Glenn R. Landau was elected IP SVP, effective November 1, and will continue as president, IP Latin America, with responsibilities for operations in Brazil, and will report to Sutton. Since 2013, Landau has served as IP VP and president, IP Latin America. Previously, he served as VP, investor relations, and as VP and GM, containerboard and recycling. He has been with the company since 1991. 
• Rampraveen Swaminathan was named president, IP India, effective November 1, and will report to Kadien. Currently, Swaminathan serves as IP VP and managing director of IP APPM. Swaminathan was appointed a director of IP APPM in January 2012 and also as managing director and CEO of the company in March 2012.