NewPage Elects Chan Galbato as Chairman

Aug. 31, 2010 - NewPage Corp. announced the election of Chan W. Galbato to the Board of Directors of NewPage and its affiliates as chairman of the Board, effective August 25, 2010.

Galbato takes over the chairman role from Robert L. Nardelli, who was elected chairman of the Board of NewPage and its affiliates on June 11, 2010 and who will remain on the Board as a director.

Nardelli, who also serves as chief executive officer of Cerberus Operations and Advisory Company, LLC (COAC), an affiliate of the majority owner of NewPage, said that, "Chan's appointment as chairman marks the end of a three-month transition during which the Board changed several top executives, including the CEO, implemented aggressive cost-reduction actions, and initiated efforts to improve customer service and profit margins.

"With the recent appointment of George Martin as president and chief executive officer, and now the addition of Chan as chairman, we are confident that we have the right team in place to execute our business plan," Nardelli said.

Galbato is a senior operating executive of COAC and a director of the Brady Corporation.

Prior to COAC, Galbato owned and managed CWG Hillside Investments LLC, a consulting business providing operational and strategic turnaround expertise to CEOs of portfolio-based companies. Before that, Galbato was president and chief executive officer of the Controls Group of businesses for Invensys plc. He was president of Home Services as well as president of the commercial distribution arm of companies for The Home Depot.

In addition, Galbato served as president and chief executive officer of Armstrong Floor products and chief executive officer of Choice Parts LLC, a joint-venture auto parts locator and catalog business.

Earlier in his career, Galbato spent 14 years with General Electric Company, holding several leadership and finance positions within their various industrial divisions (including Transportation Systems, Aircraft Engines, Medical Systems and Appliances), as well as serving as president and chief executive officer, Coregis Insurance Company, a G.E. Capital Company.

Galbato holds a master's degree in Business Administration from the University of Chicago and a Bachelor of Arts in Economics from the State University of New York.

SOURCE: NewPage Corp.

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