secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL PAPER CO /NEW/ (IP)
CIK:        0000051434
Form:       8-K
Filed at:   2024-03-19T23:59:59+00:00
Accession:  0001193125-24-070875
Event type: leadership
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51434/000119312524070875/0001193125-24-070875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51434/000119312524070875/d807996d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-070875

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer