Clearwater Paper Adds Two New Board Members
John P. O'Donnell and Alexander Toeldte Join Board
SPOKANE, Wash.--(BUSINESS WIRE)--
Clearwater Paper Corporation (NYSE:CLW) today announced that John
P. O'Donnell and Alexander Toeldte have been appointed to the company's
board of directors, effective immediately.
"We are excited to welcome John and Alex to our board and look forward
to their perspectives and contributions," said Boh A. Dickey, chairman
of the board. "Their proven leadership abilities and experience as well
as their knowledge of the paper industry will be invaluable as we
continue to build on Clearwater Paper's successful track record."
Mr. O'Donnell currently serves as the president and chief executive
officer and a director of Neenah Paper, Inc. (NYSE:NP), a global
specialty materials company. Prior to this, he served as Neenah Paper's
senior vice president, chief operating officer, and as president of the
fine paper business. Mr. O'Donnell was employed by Georgia-Pacific
Corporation for more than 20 years, serving in various capacities,
including president of the North American commercial tissue business.
Mr. Toeldte is currently an operating director at Paine & Partners, LLC,
a private equity firm. Prior to this, he served as the president, chief
executive officer and a director of Boise Inc., and as an executive vice
president at Boise Cascade LLC. Mr. Toeldte also served as an executive
vice president of Fonterra Co-operative Group, chief executive of
Fonterra Enterprises, and chief executive officer of Fletcher Challenge
Building and Fletcher Challenge Paper. In addition, Mr. Toeldte served
as chairman of the board of directors of the American Forest & Paper
Association in 2012, and was a partner at McKinsey & Company, and served
as head of its pulp and paper practice. Currently he serves as a
director of Xerium Technologies, Inc. (NYSE:XRM), a global provider of
industrial consumable products and services.
Mr. O'Donnell has been appointed to the class of directors whose term of
office will expire at the 2017 annual meeting, when it is expected he
will be nominated for election to a three-year term. Mr. Toeldte has
been appointed to the class of directors whose term of office will
expire at the 2018 annual meeting, when it is expected he will be
nominated for election to a three-year term. With these additions,
Clearwater Paper's board now consists of nine directors, eight of whom
meet New York Stock Exchange standards for independence.
ABOUT CLEARWATER PAPER
Clearwater Paper manufactures quality consumer tissue, away-from-home
tissue, parent roll tissue, bleached paperboard and pulp at
manufacturing locations across the nation. The company is a premier
supplier of private label tissue to major retailers and wholesale
distributors, including grocery, drug, mass merchants and discount
stores. In addition, the company produces bleached paperboard used by
quality-conscious printers and packaging converters. Clearwater Paper's
employees build shareholder value by developing strong customer
relationships through quality and service.
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, as
amended, including statements regarding the expected contributions and
nominations of the new directors. These forward-looking statements are
based on current expectations that are subject to change, and actual
results may differ materially from the forward-looking statements.
Factors that could cause actual results to differ materially include
those risks and uncertainties described from time to time in the
company's public filings with the Securities and Exchange Commission.
The company does not undertake to update any forward-looking statements
based on new developments or changes to the company's expectations.
For additional information on Clearwater Paper, please visit our
website at www.clearwaterpaper.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160401005143/en/
Clearwater Paper Corporation
Matt Van Vleet,
Robin Yim, 509-344-5906
Source: Clearwater Paper Corporation
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