RYAM announced that its Board of Directors has established an interim Office of the Chief Executive Officer following the resignation of President and CEO Scott M. Sutton.
April 20, 2026 - Rayonier Advanced Materials Inc. ("RYAM" or the "Company") today announced that the Company is engaged in a formal process to explore strategic alternatives to maximize shareholder value. In connection with the strategic alternatives review, the Company has engaged Morgan Stanley & Co. LLC as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel.
The Company also announced that its Board of Directors ("Board") has established an interim Office of the Chief Executive Officer ("OFC") following the resignation of President and CEO Scott M. Sutton, effective immediately. The OFC will comprise current executives to guide the Company through this transition period, including Marcus J. Moeltner, Chief Financial Officer and Senior Vice President of Finance; Michael Osborne, Vice President of Manufacturing Operations; Christian Ribeyrolle, Senior Vice President of Biomaterials; and R. Colby Slaughter, Senior Vice President, General Counsel and Corporate Secretary.
Lisa M. Palumbo, Non-Executive Chair of RYAM's Board of Directors, stated, "The Board and management are focused on ways to maximize value for the Company's stockholders. As we have recently received unsolicited indications of interest, we believe now this is the right time to evaluate options that may further advance that goal. Marcus, Michael, Christian and Colby are seasoned and highly capable leaders who have proven track records of success with RYAM. I am confident that they are well positioned to provide continuity and maintain momentum as the team continues to execute on our value-creating strategy, and the Board works with a leading executive search firm to identify a permanent successor."
Additionally, a committee of the Board will support the OFC as part of the strategic review process. The strategic review will consider a range of potential strategic, business and financial alternatives, which may include, among other things, a sale of all or part of the Company, a strategic investment, a merger or other business combination, or other strategic or financial alternatives, as well as continuing to execute on the Company's standalone strategic plan.
The Board remains confident that its approach — which is grounded in disciplined governance, transparency, and a commitment to sustainable value creation — is in the best interests of stockholders, customers, employees and all stakeholders. The Board has not set a timetable for completion of the strategic review and does not intend to provide updates unless and until it is determined that disclosure is appropriate or required by law. There can be no assurance that the strategic alternatives review process will result in any transaction or other strategic change.
RYAM is a global leader of cellulose-based technologies, including cellulose specialties, a natural polymer commonly used in the production of filters, food, pharmaceuticals and other industrial applications. RYAM's specialized assets are also used to produce commodity fluff pulp, biofuels, bioelectricity and other biomaterials such as bioethanol and tall oils. The company also manufactures products for the paper and packaging markets.
SOURCE: Rayonier Advanced Materials Inc.