MEMPHIS, Tenn., Nov. 2 /PRNewswire-FirstCall/ -- International Paper (NYSE:
IP) today announced several retirements and new assignments among its senior
management.
Printing & Communications Papers and IP Latin America
Wayne Brafford, senior vice president, Printing & Communications Papers,
announced his retirement, effective Dec. 31, 2009. With Brafford's retirement,
Mark Sutton, currently senior vice president of Global Supply Chain, will
become senior vice president, Printing & Communications Papers the Americas.
Sutton began his career with IP in 1984 and also has served as vice president
of European Container, vice president of strategic planning and senior vice
president of global supply chain.
Consumer Packaging and IP Asia
Mike Balduino, senior vice president, Consumer Packaging, and Tom Gestrich,
senior vice president and president, IP Asia, also announced their
retirements, effective Dec. 31, 2009. With their retirements, Tom Kadien,
currently senior vice president and president, xpedx, will become senior vice
president, Consumer Packaging and IP Asia, with responsibility for the
company's Coated Paperboard, Foodservice, Shorewood Packaging and IP Asia
businesses. Kadien has been with IP more than 30 years and has held additional
leadership positions in the company's Papers and IP Europe businesses.
xpedx
Mary Laschinger, currently senior vice president and president, Europe, Middle
East, Africa and Russia, will become senior vice president and president,
xpedx. Laschinger has been with IP since 1992 and has held leadership
positions in Specialty Papers, Pulp and Wood Products.
IP Europe
Maximo Pacheco, currently senior vice president and president of IP Brazil and
Latin America, will become senior vice president and president, IP Europe,
Middle East, Africa and Russia. Pacheco has been with the company since 1994
and also has held executive leadership roles in Carter Holt Harvey Chile as
well as IP Latin America.
In announcing the organizational changes, Chairman and CEO John Faraci said,
"Mike Balduino, Wayne Brafford and Tom Gestrich have each made many
significant and lasting contributions to International Paper throughout their
careers. While they will certainly be missed, their planned retirements give
other members of our senior management team opportunities to broaden their
experience base and contribute to the future success of International Paper."
About International Paper
International Paper (NYSE: IP) is a global paper and packaging company with
manufacturing operations in North America, Europe, Latin America, Russia, Asia
and North Africa. Its businesses include uncoated papers and industrial and
consumer packaging, complemented by xpedx, the company's North American
distribution company. Headquartered in Memphis, Tenn., the company employs
approximately 58,000 people in more than 20 countries and serves customers
worldwide. 2008 net sales were approximately $25 billion. For more information
about International Paper, its products and stewardship efforts, visit
www.internationalpaper.com.
This press release may contain forward-looking statements. These statements
reflect management's current views and are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed or
implied in these statements. For example, a change in business or personal
circumstances may affect the timing of these retirements and leadership
changes. We undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
otherwise. Other factors that could cause or contribute to actual results
differing materially from such forward looking statements are discussed in
greater detail in the company's Securities and Exchange Commission filings.
SOURCE International Paper
Media: Kathleen Bark, +1-901-419-4333; or Investors: Thomas A. Cleves,
+1-901-419-7566; and Emily Nix, +1-901-419-4987, all for International Paper
