International Paper Appoints Interim CFO, Adds Directors
Ticker: INPAP · Form: 8-K · Filed: Aug 27, 2024 · CIK: 51434
| Field | Detail |
|---|---|
| Company | International Paper Co /New/ (INPAP) |
| Form Type | 8-K |
| Filed Date | Aug 27, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1, $750,000, $650,000, $2,800,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-election, management-transition
TL;DR
IP's CFO out, interim in. Two new board members elected.
AI Summary
International Paper Company announced on August 25, 2024, the departure of its Chief Financial Officer, Michael J. St. Louis, effective August 26, 2024. The company also appointed Christopher J. Lown as interim CFO. Additionally, the company announced the election of two new directors, Jonathan D. Rich and David L. Hauser, to its Board of Directors, effective August 25, 2024.
Why It Matters
The departure of a CFO and appointment of an interim successor can signal a period of transition and potential strategic shifts for the company. The addition of new directors may indicate a focus on governance or specific strategic initiatives.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- International Paper Company (company) — Registrant
- Michael J. St. Louis (person) — Departing Chief Financial Officer
- Christopher J. Lown (person) — Interim Chief Financial Officer
- Jonathan D. Rich (person) — Newly Elected Director
- David L. Hauser (person) — Newly Elected Director
- August 25, 2024 (date) — Date of earliest event reported
- August 26, 2024 (date) — Effective date of CFO departure
FAQ
Who has been appointed as the interim Chief Financial Officer of International Paper?
Christopher J. Lown has been appointed as the interim Chief Financial Officer.
When was the departure of Michael J. St. Louis as CFO effective?
The departure of Michael J. St. Louis was effective August 26, 2024.
How many new directors were elected to the Board of Directors?
Two new directors, Jonathan D. Rich and David L. Hauser, were elected.
What is the principal executive office address for International Paper?
The principal executive offices are located at 6400 Poplar Avenue, Memphis, Tennessee 38197.
What is the Commission file number for International Paper?
The Commission file number for International Paper is 1-3157.
Filing Stats: 1,041 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-08-26 17:46:00
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 per share par value IP New York Sto
- $750,000 — c will receive an annual base salary of $750,000, compared to his current annual base sa
- $650,000 — ed to his current annual base salary of $650,000. In addition, Mr. Hamic will be eligibl
- $2,800,000 — an will have a grant date fair value of $2,800,000 and consist of performance stock units,
Filing Documents
- d647688d8k.htm (8-K) — 30KB
- d647688dex991.htm (EX-99.1) — 4KB
- 0001193125-24-207194.txt ( ) — 151KB
- ip-20240825.xsd (EX-101.SCH) — 2KB
- ip-20240825_lab.xml (EX-101.LAB) — 17KB
- ip-20240825_pre.xml (EX-101.PRE) — 11KB
- d647688d8k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERNATIONAL PAPER COMPANY Date: August 26, 2024 By: /s/ Joseph R. Saab Name: Joseph R. Saab Title: Senior Vice President, General Counsel and Corporate Secretary 4