Rayonier Advanced Materials Announces Election Of Vito J. Consiglio As President And CEO

Rayonier Advanced Materials Inc. (NYSE: RYAM) today announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Mr. Boynton, who has served as President and CEO since the Company’s spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.

“In 2021, the Board of Directors commenced an extensive and well-planned search for a CEO candidate with the expertise and ability to effectively capitalize on the Company’s tremendous growth potential,” said Lisa Palumbo, Chair of the Board’s Nominating and Corporate Governance Committee. “With his broad commercial expertise and operational acumen, Vito has a proven track record of driving strategic growth in the specialty materials sector. Given his strengths in areas of critical importance to RYAM, including strategy deployment, technical sales and innovation, we believe Vito is the ideal CEO to lead RYAM into its next chapter of growth and success.”

“I am honored to join RYAM and look forward to working with RYAM’s talented employees to continue building value and driving growth for its stockholders, customers and employees,” Consiglio said. “Having previously been a customer of RYAM’s, I understand the value proposition of its products and see the opportunity to grow demand for its bio-based solutions. Rayonier Advanced Materials is uniquely positioned in this competitive marketplace with its strong assets, broad product portfolio, and unparalleled technical support. I look forward to joining and leading the company as we define our bright futures.”

Mr. Boynton plans to step down from his current executive duties in the new year after more than 10 years as CEO and Board member. He will serve as Vice Chair of the Board until the May 2022 Annual Meeting to facilitate a smooth transition. During the second half of 2022, Paul will support the Company as a consultant.
more at: https://investors.rayonieram.com/news-releases/news-release-details/rayonier-advanced-materials-announces-election-vito-j-consiglio

Related Posts

Green Bay Packaging acquires Missouri-based box maker

Wisconsin-based Green Bay Packaging Inc. (GBP) has announced its acquisition of SMC Packaging Group, Springfield, Missouri. GBP describes the acquired firm as a producer of custom corrugated boxes, displays, packaging materials and equipment. SMC Packaging Group, founded in 1972 by Ross Ausburn and Charles Bachus, operates from multiple locations in Missouri, Arkansas and Oklahoma, says GBP. “We are excited to unite two well established, family-run businesses,” says Will Kress, board chair and CEO of Green Bay Packaging, which this decade has invested to build a new recycled-content paperboard mill in Green Bay, Wisconsin. That mill consumes several recovered paper grades, including mixed paper and old corrugated containers (OCC).

Cascades Reports Results for the Fourth Quarter and Full Year 2021

2021 Annual Highlights (comparative figures have been restated to reflect discontinued operations2) Sales of $3,956 million (compared with $4,105 million in 2020) As reported (including specific items) Operating income of $50 million (compared with $292 million in 2020) Operating income before depreciation and amortization (OIBD) of $302 million (compared with $543 million in 2020) Net earnings per common share of $1.60 (compared with $2.04 in 2020) Net earnings per common share of $0.26 (compared with $1.95 in 2020) Net debt1 of $1,351 million as at December 31, 2021 (compared with $1,760 million as at September 30, 2021). Net debt to adjusted OIBD ratio1 of 3.5x down from 3.8x as at September 30, 2021.

Prinzhorn’s Hamburger Rieger to start construction of 500,000 tonne/yr containerboard machine (RISI)

In March 2018, Hamburger Rieger GmbH will start the scheduled construction of its second paper machine at its Spremberg location. The new plant’s commissioning is scheduled for summer 2020. The planned product range includes white and brown corrugated base papers (testliner) based on 100% recycled paper. With a width of 7.80 metres, the machine will produce 500,000 tonnes of paper per year. For the preparation of white base materials an environmentally friendly deinking section will be installed. It combines innovative resource-conserving raw material processing and the paper machine's patented mode of operation.
Back To Top
×Close search
Search