Silvernail Elected International Paper Chief Executive Officer

Leadership Transition - International Paper has elected Andrew Silvernail as the new Chief Executive Officer (CEO), effective May 1, 2024, succeeding Mark Sutton, who will remain as Chairman of the Board [1][2] - Silvernail brings two decades of experience in leading global companies, having previously served as Chairman and CEO of Madison Industries and IDEX Corporation, where he achieved over 500% total shareholder return [1][2] Company Performance and Legacy - Under Mark Sutton's leadership, International Paper navigated the pandemic and economic challenges, achieving record-level market capitalization [2] - Sutton's tenure is noted for creating a safer, more focused, and financially strong company with a strong culture [2] Future Outlook - Silvernail expressed confidence in the company's positioning for growth and emphasized the importance of its core values and sustainability efforts [3][4] - The company aims to be among the most successful, sustainable, and responsible companies globally, with a workforce of over 39,000 employees [4][5] Financial Overview - International Paper reported net sales of $18.9 billion for the year 2023 [5]