Schweitzer-Mauduit Executive VP Peter Thompson to Step Down
Nov. 29, 2011 - Schweitzer-Mauduit International yesterday said that Peter J. Thompson (49), current Executive Vice President - Finance and Strategic Planning, is resigning to pursue other opportunities.
According to Schweitzer-Mauduit, Thompson held the position of Treasurer and Chief Financial Officer from August 2006 to August 2008 and reassumed this position with expanded duties related to strategic planning in January 2009. At the time Thompson stepped back into the CFO position in 2009, it was with the understanding that he would remain as the Chief Financial Officer for a limited period of time while certain key strategic objectives around LIP and RTL were accomplished. Those goals have been met and Thompson is now resuming pursuit of his other interests that he suspended in 2008, but will remain available to the company to consult as requested during the transition.
A recruiting process has been initiated to permanently replace Thompson, Schweitzer-Mauduit said.
In the interim, Mark A. Spears, Corporate Controller, has been appointed interim Chief Financial Officer and Treasurer pending completion of the recruiting process. Spears has served as Schweitzer-Mauduit's Corporate Controller since March 2008. He joined the company in 1995 as Corporate Reporting Manager and subsequently served in progressive roles in the Controller department including Director of Corporate Reporting and Assistant Controller.
Prior to joining Schweitzer-Mauduit, Spears was an audit manager with Coopers and Lybrand LLP (now PricewaterhouseCoopers) from 1984 to 1995.
"Pete did a fine job as our CFO and was instrumental in all of our business strategies, restructuring initiatives, planning and controls, and maintaining investor and banking relations," said Frederic Villoutreix, Chief Executive Officer. "We wish Pete well in his future endeavors and express our appreciation for his many contributions during his fifteen years at SWM.
"I further appreciate that Mark will very capably assume the interim CFO responsibilities while we complete the recruiting process to find the best possible candidate to lead SWM's financial organization into the future," Villoutreix added.
SOURCE: Schweitzer-Mauduit International