International Paper announced that Andrew Silvernail has been elected Chief Executive Officer following an extensive evaluation process. Silvernail will succeed Mark Sutton, who will continue in his role as Chairman of the IP Board of Directors.
Silvernail has two decades of experience leading global companies in the manufacturing and technology sectors. He joins IP from KKR & Co., Inc., a global investment firm, where he served as an executive advisor. He is a past Chairman and CEO of Madison Industries, one of the world’s largest privately held companies.
“Andy is an experienced CEO with an extensive track record for creating value,” International Paper Lead Director Chris Connor said. “His strategic agility and drive for results align will enhance IP’s leadership team.”
Silvernail said that he is honored and proud to be a part of International Paper. “Many things impressed me about IP, from the customers who rely on its essential products to the core values that drive its culture and its extraordinary sustainability platform. Thanks to Mark’s leadership, the company is well-positioned for growth, and I’m excited to be a part of what’s next for IP.”