"As Faraci is retiring this year, he deserves wholehearted recognition for what he has done to turn IP around."
Mr. John V. Faraci, CEO of International Paper, has been named the 2014 North American CEO of the Year by RISI, the leading information provider for the global forest products industry. The award will be presented to Mr. Faraci at the 29th Annual RISI North American Forest Products Outlook Conference.
Faraci was nominated by a group of investment analysts and portfolio managers covering the North American and global pulp and paper industry. The criteria for nomination include leadership, vision and strategic accomplishment.
IP's growth under Faraci's leadership has seen the company become a world leader in containerboard production as well as a major player in market pulp and coated paperboard. It is a significant player worldwide with operations in Europe, Asia, Latin America, India and Russia. However, sometimes leadership is not only about growth but making tough decisions. Faced with declining demand in the graphic paper market, IP shut down the 950,000-ton/yr white paper mill in Courtland, AL. Labor peace in the US has also been secured with a six-year master agreement with the United Steel Workers signed in 2014 covering 18 mills and more than 6,000 workers.
One analyst commented: "Strong strategic leadership in containerboard and paper, for instance being disciplined on supply to keep containerboard pricing stable, and also in North American paper - for example the closure of Courtland was not an easy decision, but the right one".
Another analyst commented: "As Faraci is retiring this year, he deserves wholehearted recognition for what he has done to turn IP around."
Faraci, 64, has been chairman and chief executive officer of International Paper, since November 2003, and is expected to retire in March 2015. In 2003, he was elected president of International Paper, and he previously served as executive vice president and chief financial officer from 2000 to 2003. From 1999 to 2000, he was senior vice president – finance and chief financial officer. From 1995 to 1999, he was chief executive officer and managing director of Carter Holt Harvey Ltd., a former majority-owned subsidiary of International Paper located in New Zealand. Mr. Faraci is a member of the Council on Foreign Relations and is a member of the board of directors of the National Fish and Wildlife Foundation, United Technologies Corporation and PPG Industries, Inc. He also serves on the board of the Moscow School of Management and is a member of the U.S.-Brazil CEO Forum. He is a trustee of Denison University and the American Enterprise Institute.
RISI's North American Forest Products Conference will be held in Boston on October 8, 2014. The conference will feature presentations from industry leaders and experts, along with RISI's economists and engineers.
RISI organizes four regional CEO awards each year for Europe, Asia, Latin America and North America, with the winner presented at the regional RISI conferences. In addition, the Global CEO of the Year Award is presented at the PPI Awards event, held at the Seaport Hotel in Boston, MA USA October 8, 2014
