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International Paper Elects Tim Nicholls as CFO

July 13, 2007 (Press Release) - International Paper today announced that Timothy S. Nicholls has been elected senior vice president and chief financial officer, effective Dec. 1, 2007.

"Tim's global business, finance and operations experience make him an excellent choice to be our next CFO," said International Paper chairman and chief executive officer John Faraci. "He will be a strong addition to our leadership team as we continue to execute our transformation plan."

Nicholls, 45, is currently vice president and executive project leader on special assignment related to the company's potential joint venture with Russian pulp and paper company, Ilim Pulp. He has also served as vice president and chief financial officer of the company's European operations, based in Brussels, Belgium, and as president of the company's former Canadian pulp and wood products business.

Nicholls began his career in the paper industry with Union Camp Corporation in 1991, where he held positions in finance, business management, and planning and development in both U.S. and non-U.S. packaging operations. When International Paper acquired Union Camp in 1999, he became general manager of the emerging markets segment of the combined company's corrugated packaging business and later became director of finance and planning for the industrial packaging sector.

Nicholls earned his Bachelor's degree in Business Administration from the University of South Carolina in Spartanburg, and has an MBA from the University of Georgia in Athens.

SOURCE: International Paper




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