Rayonier Advanced Materials (RYAM) has announced that the Board of Directors has appointed Daniel M. Krawczyk as Chief Executive Officer and President, effective immediately, with Krawczyk also joining the company's Board of Directors.
Daniel M. Krawczyk will lead RYAM's operations and business activities while working with the Board and external advisors as part of the company's exploration of strategic alternatives to maximize shareholder value. He most recently served as President of Huber Engineered Materials, where he led the growth and operational transformation of a $1.3 billion global industrial and specialty chemicals portfolio and executed more than $2 billion in mergers, acquisitions, and divestitures over the past decade.
The Board continues to actively evaluate a broad range of strategic alternatives with the assistance of Morgan Stanley, with the review process well underway and advancing with urgency and discipline.
The Board had previously formed an interim Office of the Chief Executive Officer comprising current executives including Marcus J. Moeltner, Michael Osborne, Christian Ribeyrolle, and R. Colby Slaughter, who will continue in their prior roles and work with Krawczyk as part of the senior leadership team.
The Board stated that no conclusions have been reached and that the appointment should not be viewed as signaling any particular outcome of the review.
RYAM is a global leader of high purity cellulose commonly used in the production of filters, food, pharmaceuticals, high performance plastics, propellants and various other industrial applications.