Catalyst Paper (Richmond, B.C., Canada) announced Monday (September 12) that Frank De Costanzo, SVO and CFO, is leaving the company to pursue a CFO position with another organization.

"While this was a difficult decision for me to make, I am truly proud of the work we have done during my tenure at Catalyst," said De Costanzo." My new position will allow me to return to the U.S. and be closer to my family."

Joe Nemeth, president and CEO, said that "we would like to thank Frank for his contributions to Catalyst in his role as CFO. "He has built a strong finance and accounting team and we wish him all the best in his future endeavors."

De Costanzo has agreed to stay with the company until September 30 to effect an orderly transition. Gerrie Kotze, the company’s corporate controller has been named VP, finance to replace De Costanzo on an interim basis. A search for De Costanzo’s successor will begin shortly.