International Paper (NYSE: IP) has announced that its board of directors has selected Andrew Silvernail as chief executive officer (CEO), following an extensive evaluation process. Effective May 1, 2024, Silvernail will take over the position from Mark Sutton, who had previously announced the final phase of the CEO succession process. Sutton will continue to serve as chairman of International Paper’s Board of Directors to ensure a smooth and successful transition.

With a two-decade track record of leading companies in the manufacturing and technology sectors, Andrew Silvernail is the new CEO of International Paper. He comes from KKR & Co, Inc, where he was an executive consultant, and previously held CEO positions at Madison Industries and other companies including IDEX Corporation, Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He is also a member of the board of directors of Stryker Corporation.

Chris Connor, senior director of International Paper, said, “Andy is an experienced CEO with an extensive track record in value creation. His strategic agility, core values and drive for results align with and will enhance IP’s excellent leadership team. We are confident that he is the “Right person to build on the success achieved under Mark Sutton’s leadership.”

For his part, Mark Sutton, International Paper’s current CEO and chairman of the board, said, “The board succession process was comprehensive and I am confident that Andy’s experience, combined with the industry expertise of our senior leadership team, will amplify the company’s success in the future. It has been a privilege to work with the IP team for the past 40 years and to lead the company for the past decade; I am incredibly proud to be IP.”

Finally, Andy Silvernail, CEO-elect of International Paper, stated “I am honored and proud to be part of International Paper, a strong and resilient company and a force for good in communities around the world. Many things impressed me about IP, from the customers who rely on its core products to the core values that drive its culture and its extraordinary sustainability platform. Thanks to Mark’s leadership, the company is well positioned for growth and I’m excited to be part of what’s next for International Paper.”

Source tissueonlinenorthamerica.com