Rayonier Advanced Materials announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Boynton, who has served as President and CEO since the Company's spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.
"I am honored to join RYAM and look forward to working with RYAM's talented employees to continue building value and driving growth for its stockholders, customers and employees," Consiglio said. "Having previously been a customer of RYAM's, I understand the value proposition of its products and see the opportunity to grow demand for its bio-based solutions. Rayonier Advanced Materials is uniquely positioned in this competitive marketplace with its strong assets, broad product portfolio, and unparalleled technical support. I look forward to joining and leading the company as we define our bright futures."
Boynton plans to step down from his current executive duties in the new year after more than 10 years as CEO and Board member. He will serve as Vice Chair of the Board until the May 2022 Annual Meeting to facilitate a smooth transition. During the second half of 2022, Paul will support the Company as a consultant.
Consiglio, 57, has extensive global industrial and product experience and a proven track record of achieving commercial and operational excellence over a 30-year career. He most recently served as an advisor to multiple private equity firms on deals within the chemicals industry. Prior to that, Consiglio was with Ashland Global Holdings Inc. (Ashland), a global specialty materials company, where he served as Senior Vice President and Chief Commercial Officer from 2018 to 2020, and prior to that, as Group Vice President, Consumer Specialties of Ashland from 2016 to 2018.
Consiglio earned his bachelor's degree in Physiology/Chemistry from Michigan State University and his master's degree in business administration from the University of Chicago Booth School of Business. He has served on the board of directors of the Delaware STEM Council since 2018.
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