International Paper appoints Andrew Silvernail as CEO, effective May 1; Sutton remains Chairman

INTERNATIONAL PAPER CO /NEW/

Andrew Silvernail, 53, joins from KKR & Co.; previously CEO of IDEX (2011-2020) where total shareholder return grew >500%.
Base salary of $1M, target bonus 150% of base, inducement PSU grant of $8.5M, and LTIP PSU grant of $12.5M.
Mark Sutton steps down as CEO after 10 years but stays as Chairman to ensure smooth transition.
Net sales for 2023 were $18.9 billion; company employs ~39,000 globally.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Andrew K. Silvernail

chief executive officer

IP · INTERNATIONAL PAPER CO /NEW/

Effective: 2024-05-01
Filed: March 19, 2024, 7:59 PM ET

On March 13, 2024, the Board of Directors of International Paper Company (the “Company”) appointed Andrew K. Silvernail, 53, to the position of chief executive officer, effective May 1, 2024 or such other dates as the parties may mutually agree (the “Effective Date”).

Role change

Mark S. Sutton

Chairman of the Board

IP · INTERNATIONAL PAPER CO /NEW/

Effective: 2024-05-01
Successor: Andrew K. Silvernail
Filed: March 19, 2024, 7:59 PM ET

He will succeed Mark S. Sutton, who will continue as Chairman of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew K. Silvernail was appointed as chief executive officer at INTERNATIONAL PAPER CO /NEW/.

Action: appointed
Role: chief executive officer

Exact text from the filing

On March 13, 2024, the Board of Directors of International Paper Company (the “Company”) appointed Andrew K. Silvernail, 53, to the position of chief executive officer, effective May 1, 2024 or such other dates as the parties may mutually agree (the “Effective Date”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark S. Sutton changed role as Chairman of the Board at INTERNATIONAL PAPER CO /NEW/.

Role: Chairman of the Board

Exact text from the filing

He will succeed Mark S. Sutton, who will continue as Chairman of the Board.

View on SEC.gov

INTERNATIONAL PAPER CO /NEW/ filing history →

Source: SEC EDGAR

accession 0001193125-24-070875

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