International Paper Appointed New Chief Executive Officer

He will replace Mark Sutton, who will continue as Chairman of the Board of Directors.

SEATTLE (Scrap Monster): The Board of Directors of Memphis, Tennessee-headquartered International Paper (IP) has appointed Andrew Silvernail as Chief Executive Officer (CEO). The announcement marks culmination to an extensive evaluation process. He will replace Mark Sutton, who will continue as Chairman of the Board of Directors.

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Silvernail has over two years of global industry experience. He joins the company from KKR & Co., Inc., where he served as an executive advisor. He has served as the Chairman and CEO of Madison Industries. Prior to that, Silvernail served as Chairman and CEO of IDEX Corporation. Previously, he has held executive positions at Rexnord Industries, Newell Rubbermaid and Danaher Corporation. He currently serves on the Board of Directors of Stryker Corporation.

International Paper Lead Director Chris Connor thanked Mark, on behalf of the Board, for his outstanding contributions to IP over the past decade. The company is confident that Silvernail is the right person to build on the success achieved under Mark Sutton's leadership. His extensive track record for creating value and his drive for results will further enhance IP's outstanding leadership team, he added.

Meantime, Silvernail said that he is honoured and proud to be a part of a strong and resilient company.

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