NewPage Corp. today announced that Richard Willett, Jr., President and CEO, resigned on January 18, 2010. His duties will be taken over by Mark Suwyn, who is the company’s Executive Chairman and former CEO – until a replacement is named.
“After considerable personal reflection on my longer term career interests, I have made the difficult decision to leave NewPage to pursue opportunities in other industries,” stated Willett, who is to stay on as a consultant until March 31, 2010. NewPage claims it is the largest coated-paper manufacturer in North America, based on production capacity, with US$4.4 billion in net sales for the year ended December 31, 2008.
“While there is never a perfect time for a transition, Rick and I, along with the Board of Directors, have mutually agreed on this timing and feel that NewPage is well positioned for the future now that the acquisition of Stora Enso North America has been successfully integrated,” stated Suwyn. “Rick has made enormous contributions to NewPage over the past four years and we all wish him well in the future.”