- After almost nine years in the position
- Praise for Sutton
- Search for a successor
- Sutton said 86 words
(exechange) — Memphis, Tennessee, September 6, 2023 — Mark Sutton, chief executive of International Paper, is set to leave his position. As announced by International Paper Co. in a news release on Wednesday, September 6, 2023, Mark S. Sutton will leave his post as chief executive officer at the producer of packaging, pulp and other fiber-based products, after almost nine years in the role, effective when his successor is in place.
International Paper will undertake a search for a successor.
“The right time”
The planned management change is explained as follows. Sutton stated: “I am confident that this is the right time to initiate this phase of our multi-year succession plan.”
Precise information regarding Mark Sutton’s future plans was not immediately available.
“Next phase of the company’s CEO succession plan”
International Paper said: “Chairman and CEO Mark Sutton has requested that the Board of Directors move forward with the next phase of the company’s CEO succession plan. This phase in the process will include a comprehensive evaluation of internal and external candidates for Sutton’s successor.”
Share price decline since September 2021
The announcement follows a decline in International Paper Co.’s share price of 39% since September 2021.
In the position of CEO since 2014
Mark Sutton became CEO of the Company in 2014.
Sutton will continue in his role as chairman and CEO until his successor is in place.
Sutton has served as Chairman since January 1, 2015 and as Chief Executive Officer since November 1, 2014.
Sutton previously served as President & Chief Operating Officer from June 1, 2014 to October 31, 2014, Senior Vice President – Industrial Packaging from November 2011 to May 31, 2014, Senior Vice President – Printing and Communications Papers of the Americas from 2010 until 2011, Senior Vice President – Supply Chain from 2008 to 2009, Vice President – Supply Chain from 2007 until 2008, and Vice President – Strategic Planning from 2005 until 2007.
Sutton joined International Paper in 1984.
86 words by Mark Sutton
In the release announcing his planned departure as CEO of International Paper Co., Mark Sutton received praise.
In announcing his departure, Mark Sutton said 86 words.
“Capitalize on significant opportunities for profitable growth”
Mark Sutton stated: “I am confident that this is the right time to initiate this phase of our multi-year succession plan. Our experienced leadership team, refined business portfolio, ongoing execution of our transformation strategy and strong balance sheet position the company for our next leader to capitalize on significant opportunities for profitable growth. I look forward to working with our Board of Directors on this phase of the process. I will continue to lead the management team to ensure the company’s success and a seamless handoff to my successor.”
Push-out Score for Mark Sutton’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Mark Sutton was pushed out or felt pressure to leave his position.
exechange reached out to International Paper and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 37.2023 ($).