Wausau Paper Announces Succession Plan, Thomas Howatt to Retire at Year-end
Oct. 19, 2011 (Press Release) - Wausau Paper today announced that Thomas J. Howatt, president and CEO of the company, will retire at the end of 2011 and that Henry C. Newell, currently executive vice president and chief operating officer of the company will succeed Mr. Howatt as president and CEO effective January 1, 2012.
Additionally, Mr. Howatt will succeed San W. Orr, Jr. as non-executive chairman of the board of the company effective February 15, 2012. Mr. Orr will retire from the company’s board of directors as of the company’s annual meeting in April 2012 upon the conclusion of his present term on the board, having reached mandatory retirement age.
Mr. Newell (54) joined Wausau Paper in 2007 as vice-president, business development and was promoted to the position of senior vice-president specialty products in January of 2009 and to the role of senior vice-president paper when the company consolidated its specialty products and printing & writing business segments in January of 2010. He was promoted to his current role in March of this year. Mr. Newell holds a Master of Business Administration degree from Wake Forest University and a Bachelor of Science degree from the University of Florida. He brings more than 25 years of experience in the paper industry to his new role. Mr. Newell will stand for election to the company’s board of directors at its April 2012 annual meeting.
The Wausau Paper board of directors has been actively engaged in succession planning matters for an extended period of time and has been overseeing development activities in anticipation of the planned leadership changes being announced today.
Mr. Howatt stated, “Hank Newell’s leadership capabilities, vision and extensive industry experience ideally position him to lead Wausau Paper at this time. The company’s extensive executive talent development and succession planning efforts over the past several years have provided an orderly and seamless leadership transition that best positions Wausau Paper for the future.”
Wausau Paper produces and markets specialty papers for industrial, commercial and consumer end markets as well as a complete line of away-from-home towel and tissue products. The company is headquartered in Mosinee, Wisconsin.
SOURCE: Wausau Paper