International Paper (IP) CFO Roberts, SVP Hoel to Retire; Successors Named

October 13, 2016 9:26 AM EDT

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International Paper (NYSE: IP) announced Carol L. Roberts, Senior Vice President and Chief Financial Officer, and William Hoel, Senior Vice President, Container The Americas, will retire on March 31, 2017.

"For more than 30 years, Carol and Bill have been key contributors to our success; they have been integral in leading our transformation to a more successful and sustainable company," said Mark S. Sutton, Chairman and CEO. "We will continue to benefit from the people and organizations they developed and we wish them all the best in retirement."

The company announced the following senior leadership transitions and the International Paper Board of Directors elected two new Senior Vice Presidents:

Glenn R. Landau has been named Senior Vice President, Finance, effective January 1, 2017, and will become the Company's Chief Financial Officer effective with the filing of the Company's 2016 Form 10-K in the first quarter of 2017. For the remainder of this year, he will transition his current responsibilities in Latin America.

W. Michael Amick, Jr., has been named Senior Vice President, Paper the Americas, effective January 1, 2017. Amick will continue to lead the Company's North American papers business and assume additional responsibilities for the Company's papers business in Latin America.

Timothy S. Nicholls has been named Senior Vice President, Industrial Packaging the Americas, effective January 1, 2017. Nicholls will continue leading the Company's North American industrial packaging business and assume additional responsibilities for the Company's packaging business in Latin America.

Gregory T. Wanta has been elected Senior Vice President, North American Container, effective December 1, 2016. Wanta will assume Hoel's previous responsibility for the Company's North American corrugated packaging business.

Catherine I. Slater has been elected Senior Vice President, Consumer Packaging. Slater will join International Paper from Weyerhaeuser Company, effective with the completion of the acquisition of Weyerhaeuser's pulp business, which she currently leads. Slater will assume responsibility for leading the Company's consumer packaging business, which includes the coated paperboard and foodservice businesses.

"We have experienced and accomplished leaders who are ready to step into new roles and accelerate our performance," said Sutton. "This new senior leadership team will enable us to continue to pursue our vision of being among the most successful, sustainable and responsible companies in the world."

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