Glatfelter Announces CEO Transition
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Glatfelter Corporation recently announced that Mr. Thomas Fahnemann has been appointed to the role of President and Chief Executive Officer, effective immediately.
He replaces the Company’s current Chairman and Chief Executive Officer, Mr. Dante C. Parrini, who will be leaving the Company following a 25-year career. In addition, the Board has appointed Mr.
Kevin M. Fogarty, currently an independent Glatfelter Board Director and Chairman of the Nominating and Corporate Governance Committee, to the role of Non-Executive Chairman. The Company noted that these changes are not related to Glatfelter’s operations, financial reporting or controls, or personal conduct.
“The Board of Directors of Glatfelter are unanimous in our view that we have the right combination of business segments serving attractive, growth-oriented markets and customers, with sustainable product offerings to truly address fundamental challenges in today’s changing world. Nevertheless, as our shareholders and all stakeholders well know, unprecedented global inflationary challenges, and the geopolitical conflicts in Russia/Ukraine primarily, have yielded major challenges impacting Glatfelter’s financial performance. As such, the Board is also unanimous in its view that now is the right time for new leadership at Glatfelter to address these concerns specifically, while charting a new direction to unlock the full value we fundamentally believe is unique to Glatfelter. In naming Thomas Fahnemann as our next CEO, we are confident his success leading similar consumer-driven, industrial businesses, coupled with his vast European experiences and perspectives, will present our shareholders, customers, and employees alike with a disciplined approach to reposition the company toward a future we all believe is achievable. We are delighted to welcome Thomas to Glatfelter,” said Mr. Lee C. Stewart, Independent Lead Director.
Mr. Fahnemann currently serves as Non-Executive Director, Member of the Board and Chairman of the Audit Committee for AustroCel Hallein, GmbH, Amsterdam, the Netherlands.
