Rayonier Advanced Materials Inc recently announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Mr. Boynton, who has served as President and CEO since the Company’s spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.
“In 2021, the Board of Directors commenced an extensive and well-planned search for a CEO candidate with the expertise and ability to effectively capitalize on the Company’s tremendous growth potential,” said Lisa Palumbo, Chair of the Board’s Nominating and Corporate Governance Committee. “With his broad commercial expertise and operational acumen, Vito has a proven track record of driving strategic growth in the specialty materials sector. Given his strengths in areas of critical importance to RYAM, including strategy deployment, technical sales and innovation, we believe Vito is the ideal CEO to lead RYAM into its next chapter of growth and success.”
“I am honored to join RYAM and look forward to working with RYAM's talented employees to continue building value and driving growth for its stockholders, customers and employees,” Consiglio said. “Having previously been a customer of RYAM's, I understand the value proposition of its products and see the opportunity to grow demand for its bio-based solutions. Rayonier Advanced Materials is uniquely positioned in this competitive marketplace with its strong assets, broad product portfolio, and unparalleled technical support. I look forward to joining and leading the company as we define our bright futures.”
Mr. Boynton plans to step down from his current executive duties in the new year after more than 10 years as CEO and Board member. He will serve as Vice Chair of the Board until the May 2022 Annual Meeting to facilitate a smooth transition. During the second half of 2022, Paul will support the Company as a consultant.
Board Chair De Lyle Bloomquist said, “On behalf of the full Board, I would like to thank Paul for more than 22 years of tireless service to the Company. He has been a phenomenal leader and has positioned the Company to be successful well into its new bio-future. Paul provided the Board with early notice of his retirement plans and has been a valuable resource as the Board engaged in a thorough and thoughtful search to find the right successor. We appreciate Paul’s dedication to the Company and his continued support through the transition process.”
Boynton stated, “As the leading global producer of cellulose specialties with four biorefinery assets, RYAM is well-positioned to further leverage its potential by developing and producing bioenergy and biomaterials for a world demanding more sustainable products. Having served 10 years as CEO and two decades in executive leadership, I feel this is the right time for change. I have been incredibly fortunate to work with an outstanding and dedicated RYAM team, and I want to offer my sincere thanks for their hard work and dedication, which has allowed us to achieve so much. I also want to thank our customers and Board of Directors for their on-going support. I’m confident Vito will be an excellent leader for RYAM. I look forward to working closely with him to ensure a smooth and successful transition.”
