International Paper Stock Jumps More Than 10% After Company Announces New CEO

Core Insights - International Paper appointed Andrew Silvernail as the new CEO, replacing Mark Sutton, who has been in the role since 2014 and will remain as chairman of the board [1][2] - The announcement led to a significant increase in International Paper's stock, reaching its highest level in over a year [1] - Silvernail has a background as an executive advisor at KKR and has previously served as CEO of Madison Industries and IDEX Corporation [1] Company Transition - The succession process was described as "comprehensive" by Sutton, indicating a well-planned transition [2] - Silvernail expressed confidence in the company's positioning for growth moving forward [2] Stock Performance - Following the announcement, shares of International Paper rose by 10.9%, reaching $38.73 [2]