International Paper Chairman, John Faraci, Earns Executive Honor
Feb. 10, 2011 - PaperAge magazine announced that John V. Faraci, chairman and chief executive officer of International Paper, has been selected as its 24th “Executive Papermaker of the Year.”
An exclusive interview with Mr. Faraci will be published in the March/April 2011 issue of PaperAge.
Since 1988, PaperAge has annually selected recipients of its Executive Papermaker of the Year Award based on corporate vision, strategic objectives and strong leadership both within the individual's company and in the paper industry as a whole.
Under Mr. Faraci's leadership, International Paper has repositioned itself as a global leader in manufacturing of uncoated paper and packaging. It has been noted in the industry that IP is a “…large manufacturer that has changed its business model to fit with today's market.”
Outside of North America, Memphis, Tennessee-based International Paper has directed its focus on emerging markets with joint-ventures in Russia (Ilim Group) and China (Shandong Sun Paper) and is in the midst of expansion projects within both JVs. Additionally, in June of 2010, IP completed the acquisition of SCA's packaging business in Asia in an all cash deal.
In 2010, IP posted strong earnings, increased cash flow and reduced its debt, and market indicators point to strengthening demand for its products in 2011.
John Faraci has served as chairman and chief executive officer of International Paper since November 2003. Earlier in 2003, he was elected president of International Paper, and he previously served as executive vice president and chief financial officer from 2000 to 2003.
From 1999 to 2000, Mr. Faraci was senior vice president - finance and chief financial officer. From 1995 to 1999, he was chief executive officer and managing director of Carter Holt Harvey Ltd., a former majority-owned subsidiary of International Paper located in New Zealand.
Mr. Faraci joined International Paper in 1974 after finishing graduate school.
Mr. Faraci is a member of the board of directors of United Technologies Corporation. He also serves as a member of the boards of the Grand Teton National Park Foundation, and the National Park Foundation. He is a trustee of Denison University and a member of the Citigroup International Advisory Board.
SOURCE: PaperAge and International Paper