Wausau Paper recently announced that its President and Chief Executive Officer, Henry C. “Hank” Newell, has stepped down as CEO effective immediately and plans to resign from the Company’s Board of Directors after a brief transition period. The Company also announced that Non-Executive Chairman Thomas J. Howatt will be retiring from the Board in advance of the Company’s 2014 Annual Meeting of Shareholders.
Michael C. Burandt, a Wausau Paper Board member since February 2012 and a member of the Board’s Audit and Corporate Governance committees, has been appointed interim Chief Executive Officer and will become Chairman following a brief transition period. The Board is conducting a search for a permanent CEO replacement.
Mr. Burandt said, “On behalf of the Board, I want to thank Hank Newell for his contributions to the Company, and in particular for his role in transforming Wausau Paper into a pure-play tissue company that is well-positioned to deliver value over the long term. We wish Hank all the best in his future endeavors.”
