CFO, Corporate Development and Strategic Planning Combined into
Single Role
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
Rayonier Advanced Materials (NYSE:RYAM) announced today that it had
consolidated its senior management position of chief financial officer
with corporate development and strategic planning. Frank Ruperto, senior
vice president, corporate development and strategic planning, will
assume the new combined role of chief financial officer and senior vice
president, finance and strategy.
“As we discussed in our third quarter earnings call, the company has
embarked on an effort to evaluate opportunities to become more
efficient, which includes a review of senior roles within the company.
With Frank’s extensive background in financial markets, investor
relations, and financial management, this restructuring optimizes our
financial team,” stated Paul Boynton, chairman, president and chief
executive officer. “In addition to reducing management costs, the
combination better integrates our accounting and planning functions,
ensuring that all aspects of our strategy are aligned. We congratulate
Frank on his expanded role and look forward to the company gaining
additional benefits from his skill set that will translate into value
for our stockholders.”
Ruperto joined Rayonier in March 2014 as senior vice president,
corporate development and strategic planning. Following the separation,
he was appointed to the same position at Rayonier Advanced Materials.
Drawing on nearly 25 years of investment banking experience, he will now
direct the company’s financial operations and continue leading efforts
to achieve its future growth priorities. Prior to joining Rayonier,
Frank served as managing director of mergers and acquisitions for Bank
of America Merrill Lynch, and previously served as head of global
industrial M&A for Banc of America Securities. He also served as
managing director, M&A at Merrill Lynch, Pierce, Fenner & Smith. Ruperto
received a Bachelor of Arts with a concentration in economics from
Harvard College and holds an MBA, with a major in finance, from The
Wharton School of Business at The University of Pennsylvania.
“As a global leader in our business and with our newly established
independence, Rayonier Advanced Materials has a promising future and
significant opportunities to build stockholder value,” said Ruperto.
“I’m looking forward to broadening my responsibilities to make a larger
contribution to the organization.”
With the consolidation of these roles, Benson Woo, Rayonier Advanced
Materials’ senior vice president and chief financial officer, has left
the company. “We thank Benson for his service and wish him well in his
future endeavors,” stated Boynton.
Certain statements in this document regarding anticipated financial,
legal or other outcomes including business and market conditions,
outlook and other similar statements relating to Rayonier Advanced
Materials’ future events, developments or financial or operational
performance or results, are "forward-looking statements" made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws. These forward
looking statements are identified by the use of words such as "may,"
"will," "should," "expect," "estimate," "believe," "intend,”
"anticipate" and other similar language. However, the absence of these
or similar words or expressions does not mean that a statement is not
forward-looking. While management believes that these forward-looking
statements are reasonable when made, forward-looking statements are not
guarantees of future performance or events and undue reliance should not
be placed on these statements.
About Rayonier Advanced Materials
Rayonier Advanced Materials is the leading global supplier of
high-purity, cellulose specialties products, a natural polymer for the
chemical industry. Working closely with its customers, the
company engineers natural polymeric chemical chains to create dozens of
customized high-purity performance fibers at its plants in Florida and
Georgia. Rayonier Advanced Materials’ intellectual property and
manufacturing processes have been developed over 85 years, resulting in
unique properties and very high quality and consistency. The
company’s facilities can produce up to 675,000 metric tons of cellulose
specialties products for use in a wide range of industrial and consumer
products such as filters, cosmetics and pharmaceuticals. Rayonier
Advanced Materials is consistently ranked among the nation’s top 50
exporters and delivers products to 79 ports around the world, serving
customers in 20 countries across five continents.
Rayonier Advanced Materials
Media
Russell Schweiss,
904-357-9158
or
Investors
Beth Johnson, 904-357-9136
Source: Rayonier Advanced Materials