May 6, 2014 / 7:32 PM / 4 years ago

International Paper CEO to skip St. Petersburg forum -source

NEW YORK, May 6 (Reuters) - International Paper Co Chief Executive John Faraci will not attend the annual St. Petersburg International Economic Forum later this month in Russia and will send deputies instead, according to a source close to the company.

Faraci had been listed as a participant as recently as last week on the forum’s website, although on Tuesday his name had been removed.

The White House has encouraged U.S. business leaders not to attend, citing Russia’s involvement in Ukraine.

The company has invested more than $1 billion in a Siberian paper plant that primarily sells to China and the domestic Russian markets. (Reporting by Ernest Scheyder; Editing by Steve Orlofsky)

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