Mr. Burandt said, “On behalf of the Board, I want to thank Hank Newell for his contributions to the Company, and in particular for his role in transforming Wausau Paper into a pure-play tissue company that is well-positioned to deliver value over the long term. We wish Hank all the best in his future endeavors.”
Mr. Burandt expects to conduct a detailed review of all aspects of the Company’s operations and the impact on 1Q performance of cold weather, competitive pricing pressure in support product categories, professional fees associated with proxy and advisory services, and other factors. The Company expects to provide further updates to shareholders at the time of its first-quarter earnings announcement.
Mr. Burandt is a paper industry veteran, having served from 1988 until 2007, in various senior positions at Georgia Pacific Corporation, a manufacturer of tissue products, fine paper, building products, containerboard, packaging pulp, and DIXIE® brand products. From November 2000 until May 2007, he was Georgia Pacific’s Executive Vice President of North American Consumer Products, which included the at-home and away-from-home tissue businesses, fine paper business, bleached board business, and the DIXIE® brand businesses. Mr. Burandt was appointed to the Wausau Paper Board in February 2012. He is currently President and CEO of Cantina Holdings LLC, a position he has held since September 2007.
The Company also announced that Non-Executive Chairman Thomas J. Howatt will be retiring from the Board in advance of the Company’s 2014 Annual Meeting of Shareholders.
Wausau Paper produces and markets a complete line of away-from-home towel and tissue products.