Arctic Paper's Chief Executive Submits Resignation

Michal Jarczynski

June 25, 2013 - Arctic Paper said that its CEO, Michal Jarczynski, on June 19 submitted his resignation, which becomes effective on July 15 of this year.

In the interim, Arctic's Supervisory Board has named Wolfgang Lübbert as acting CEO. Lübbert is a current Member of Arctic's Management Board and Sales & Marketing Director.

In a statement, Arctic Paper said that it Supervisory Board expressed great gratitude to Jarczynski for his 15 years of service to the group.

"We would like to thank Michal Jarczynski for 15 years of intensive work on the development of the Arctic Paper Group," said Olle Grundberg, Chairman of the Supervisory Board.

"Michal Jarczynski has been associated with the group since 1998. He was originally employed at our plant in Kostrzyn, which under his leadership became the most productive paper mill in our group. He also oversaw such important processes for the growth of the group as inclusion of the Kostrzyn paper mill in the special economic zone, construction of our own gas-fired heat and power plant in Kostrzyn, listing of Arctic Paper on the Warsaw Stock Exchange, acquisitions and the group’s debut on NASDAQ OMX in Stockholm.

"We wish him much success in his further professional challenges,” Grundberg concluded.

Arctic Paper S.A. has its registered office in Poznan, Poland, where most of the group management and the board of directors are also based. Sales and marketing is based in Gothenburg and Hamburg. Arctic Paper S.A. is the parent company of the four fine paper mills Arctic Paper Munkedals AB and Arctic Paper Grycksbo in Sweden, Arctic Paper Mochenwangen GmbH in Germany and Arctic Paper Kostrzyn S.A. in Poland.

Arctic Paper S.A. has sales offices in 15 countries: Germany, Austria, Latvia, Italy, Poland, Switzerland, France, Ireland, Spain, Ukraine, the UK and a joint office for the Benelux region in Belgium. The company has a separate organisation for direct sales and distribution in the Scandinavian countries of Sweden, Norway and Denmark, as well as representatives in Finland and Portugal. For additional information, visit www.arcticpaper.com

SOURCE: Arctic Paper S.A.