May 31, 2022 - Rayonier Advanced Materials Inc. (RYAM) today announced that De Lyle W. Bloomquist has been appointed President and Chief Executive Officer of the company, effective immediately. Bloomquist succeeds Vito J. Consiglio, who has stepped down as President and CEO, and as a member of the company's Board of Directors, with the mutual agreement of the Board.
In connection with Mr. Bloomquist's appointment, the Board named Lisa M. Palumbo as Non-Executive Chair of the Board.
Bloomquist has served on RYAM's Board since 2014 and was named Non-Executive Chair of the Board in May 2020. He has decades of domestic and international leadership experience in the chemicals, minerals and materials industries, including in finance, sales, logistics, operations, IT, strategy and business development capacities.
Bloomquist most recently served as a partner at Windrunner Management Advisors LLC, a management advisory services business, and prior to that served as the President, Global Chemical Business of Tata Chemicals Limited, and President, CEO and Director of Tata Chemicals North America Inc. He is a graduate of Brigham Young University and holds an MBA from Carnegie Mellon University.
"I look forward to working closely with the Board and management team to improve the Company's profitability by increasing operational reliability, countering inflationary supply chain pressures, focusing on employee engagement, and advancing the Company's biorefinery and biomaterials strategy," said Mr. Bloomquist. "As a result of these efforts, the company remains on track to meet our prior guidance and deliver improved EBITDA in the second quarter and the full year 2022. I am confident in the Company's ability to continue providing our customers with the sophisticated products, solutions and service that they have come to expect, while delivering enhanced value to our stockholders."
Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs just over 2,500 people and generates approximately $1.4 billion of revenues. To learn more, visit: www.rayonieram.com.
SOURCE: Rayonier Advanced Materials Inc.
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