MEMPHIS, Tenn. - International Paper (NYSE:IP), which has seen its stock surge nearly 68% over the past year according to InvestingPro data, has announced the appointment of Joy Roman to the position of Senior Vice President, Chief People and Strategy Officer, effective February 1. Roman will report directly to Chairman and CEO Andy Silvernail, taking charge of talent development, organizational effectiveness, and corporate strategy. Her role is part of the company's initiative to strengthen the synergy between its workforce and strategic direction, aiming to enhance performance culture.
Roman's background includes a stint as Chief People & Strategy Officer at Berry Global since April 2024 and significant experience in both human resources and strategy. Her career began at McKinsey & Company, followed by a decade at 3M in various strategic and HR roles, leading up to Chief Human Resources Officer positions at Toll Brothers (NYSE:TOL) and the De Beers Group. Roman is a Yale School of Management MBA graduate and holds a bachelor's degree from the University of Wisconsin.
CEO Silvernail expressed confidence in Roman's abilities, highlighting her track record and passion for leveraging human resources to drive growth and shareholder value. In her new role at International Paper, Roman will also oversee the company's Sustainability and Communications functions.
International Paper is a leading global producer of sustainable packaging, pulp, and other fiber-based products, and is recognized as one of the world's largest recyclers. The company, which is headquartered in Memphis, employs about 39,000 people worldwide and operates manufacturing facilities across North America, Europe, Latin America, and Africa. With a market capitalization of $20.25 billion and a remarkable track record of maintaining dividend payments for 54 consecutive years according to InvestingPro, International Paper demonstrates strong financial stability. In 2023, International Paper reported net sales of $18.9 billion. InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value, with 8 additional exclusive insights available to subscribers.
This leadership change is based on a press release statement from International Paper.
In other recent news, International Paper has been making significant strides in its acquisition of British competitor DS Smith, a deal worth $7.12 billion. The acquisition has received approval from the European Union, following International Paper's agreement to sell off certain assets to alleviate competition concerns. The acquisition is set to boost International Paper's presence in the European market.
Furthermore, Jefferies has forecasted a price increase for linerboard which could significantly benefit International Paper. The firm expects the January linerboard price increase of $60-70 per ton to gain traction, potentially resulting in an EBITDA boost of 6-17% for International Paper.
Additionally, International Paper has announced changes to its executive compensation structure, shifting to performance stock units as the sole performance metric. The company has also issued a second supplementary prospectus related to its UK listing, a part of the ongoing acquisition process of DS Smith.
These are recent developments that highlight the company's strategic moves to strengthen its market position and financial outlook.
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