International Paper elects new chairman and CEO

Sutton currently serves as president and chief operating officer responsible for leading and running the company's global operations. Prior to his current role he was senior vice-president for industrial packaging. 

Current CEO and Chairman John V. Faraci is retiring. Faraci has served as CEO and chairman of the board of directors since November 2003.

He led the transformation of International Paper 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.

Faraci served in roles including president, executive vice-president and chief financial officer before being name/d 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 officially retires on February 28, 2015.

Faraci said: ‘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.

‘Under Mark's leadership, I am confident that International Paper's best days are ahead.’

J. Steven Whisler, presiding director at International Paper, said: ‘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.

‘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.’

Further appointments at International Paper have also been announced, with Thomas G. Kadien named as senior vice-president responsible for human resources, communications and global government relations alongside his current responsibilities for supply chain and IP India. Currently, he is senior vice-president for consumer packaging in North America, with responsibilities for operations in India and China. Kadien has been with International Paper since 1978. 

Paul J. Karre, the current senior vice-president responsible for human resources and communications, will retire following a period of transition. Karre has been with the company since 1974.

Also, Timothy S. Nicholls has been named as senior vice-president for industrial packaging, effective November 1. Currently, he is senior vice-president for printing and communications papers in the Americas. Nicholls' previous positions included senior vice-president and chief financial officer, vice-president of finance, and vice-president and CFO at IP

Europe.  He has been with International Paper since 1991.

William Hoel, who was acting senior vice-president of industrial packaging, will resume his role as senior vice-president, Container the Americas, reporting to Nicholls. 

W. Michael Amick, Jr, has been elected senior vice-president for International Paper’s papers, pulp and consumer packaging operations, effective November 1, and will report to Sutton. 

Currently he serves as International Paper vice-president and president for IP India, and as executive chairman of International Paper APPM. Prior to his role in India, Amick was vice-president and general manager for the coated paperboard business.  He has been with International Paper since 1990.

Glenn R. Landau has been elected as International Paper senior vice-president, effective November 1, and will continue as president of IP Latin America, with responsibilities for operations in Brazil, and will report to Sutton. 

Since 2013, Landau has served as International Paper vice-president and president of IP Latin America. Previously, he served as vice-president of investor relations, and as vice-president and general manager, containerboard and recycling. He has been with the company since 1991.

Finally, Rampraveen Swaminathan has been named president of IP India, effective November 1, and will report to Kadien.

Currently, Swaminathan serves as IP vice-president and managing director of IP APPM. Swaminathan was appointed a director of International Paper APPM Limited in January 2012 and also as managing director and CEO of the company in March 2012.