Oct 5 Clearwater Paper Corp, which makes
paper napkins and packaging paper, said Chief Executive Gordon
Jones will retire at the end of the year and Chief Operating
Officer Linda Massman will take over.
Jones, who has been CEO since 2008, has worked in the pulp
and paper industry for more than 30 years.
Massman will take over on Jan. 1, the company said.
In May, hedge fund SAC Capital Advisors, which at the time
held a 7 percent stake in the company, wrote to Jones that
Clearwater Paper was "deeply undervalued".
It later urged the company to split itself into two parts to
raise its value.
Shares of the company closed at $40.88 on Thursday on the
New York Stock Exchange.