Smurfit-Stone President Steve Klinger Announces Resignation

Oct. 28, 2010 - Smurfit-Stone Container's president and chief operating officer Steven J. Klinger announced his intent to resign from the company, effective December 31, 2010.

Klinger will also resign from the company's Board of Directors.

"Steve has had an enormous influence on Smurfit-Stone since he joined the company nearly five years ago," said Patrick J. Moore, CEO. "He helped lead a multi-year operational transformation plan which resulted in greatly improved efficiencies, more modern equipment, an aligned sales and marketing function and a more cost-effective business model. Steve's passion for building high-performing teams has resulted in our ability to attract and retain top talent and will have a lasting impact on this organization."

Klinger said, "I am proud of all that the Smurfit-Stone team has accomplished over the past few years. Our employees are the best in the industry. In spite of the challenging economy, the industry slow-down, our transformation and financial restructuring, we have solidly positioned Smurfit-Stone for long-term profitable growth. These are exciting times for the company and I am honored that I had the opportunity to be a part of it."

Smurfit-Stone's Board of Directors announced in August they have launched a search for a CEO successor to Moore, who has announced his intent to retire.

SOURCE: Smurfit-Stone Container Corp.