Clearwater’s Massman to Succeed Jones as CEO

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Clearwater Paper Corp., Spokane, Wash., USA, announced that Linda K. Massman will become the company’s next CEO, succeeding Gordon L. Jones, who will be retiring from his roles as CEO and chairman of the board of directors on December 31. Massman, currently president and COO, will begin as president and CEO on January 1, 2013. She will also join Clearwater Paper’s board of directors at that time. Additionally, vice chairman and lead director of the board, Boh A. Dickey, has been appointed chairman of the board, also effective January 1.

"Linda has been an integral part of the company’s ability to design and execute its strategy from the beginning," said Dickey. "She came to Clearwater Paper as one of the company’s original leaders after a rapid succession in finance and strategy development, and is now making the natural progression from COO to CEO. She is the right person to lead Clearwater Paper as we enter our next phase of growth and development."

Jones added that "I have had the pleasure of working closely with Linda since the company’s spin-off in 2008 and she has been an integral part of Clearwater Paper’s success. Since that time, we have executed on our growth strategy and successfully transformed our company into one of the largest and most successful premium private label tissue and bleached paperboard producers in North America. Under Linda’s leadership, I am confident Clearwater Paper will continue to build on this track record of success."

Massman was appointed VP and CFO of Clearwater Paper in 2008, then named president and COO in November 2011. Before joining Clearwater Paper, she was group VP, finance and corporate planning, for SUPERVALU Inc. Prior to this, she worked as a business strategy consultant for Accenture. Massman has more than 20 years of corporate finance and business strategy development experience and earned a Bachelor of Business Administration from the University of North Dakota and an MBA from Harvard Business School.

"I am honored to take on the role of CEO of Clearwater Paper at this time of great opportunity," Massman said. "Given the market dynamics within private label, our track record of success and strategic plan for growth, I believe we are well positioned to continue to enhance stockholder value. We remain focused on expanding the geographic and channel reach of Clearwater Paper while executing on our cost efficiency and integration synergy goals. I look forward to working with the board, management team, and our dedicated employees to continue Clearwater Paper’s achievements for customers and investors."

Clearwater Paper produces consumer tissue, away-from-home tissue, hard roll tissue, machine glazed tissue, bleached paperboard, and pulp at 15 manufacturing locations in the U.S. and Canada. The company also produces bleached paperboard.