International Paper Announces Changes to Its Board of Directors

~ International Paper (IP) has announced the addition of two new members to its Board of Directors, effective May 21, 2024. Jamie A. Beggs and Scott A. Tozier have been elected to join the board, bringing with them extensive financial expertise and business insight.

Ms. Beggs, age 47, currently serves as Senior Vice President and Chief Financial Officer of Avient Corporation (NYSE: AVNT). With over two decades of experience in finance and investor relations, she has played a crucial role in leading the organization through a strategy focused on long-term sales growth and sustainability. She holds a Bachelor of Business Administration and a Master of Professional Accounting from The University of Texas at Austin and is also a certified public accountant.

Mr. Tozier, age 58, brings with him a wealth of experience as a strategic advisor at Albemarle Corporation (NYSE: ALB). He previously served as the Executive Vice President and Chief Financial Officer at Albemarle Corporation for over a decade, where he oversaw all aspects of financial management and played a key role in the company's significant growth. He holds a Bachelor of Business Administration in Accounting and Information Systems from the University of Wisconsin-Madison and a Master of Business Administration from the University of Michigan. He is also a certified public accountant.

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Both Ms. Beggs and Mr. Tozier will be appointed to the Audit and Finance Committee as well as the Public Policy and Environment Committee upon joining the IP Board.

Mark S. Sutton, Chairman of IP, expressed his excitement about having Ms. Beggs and Mr. Tozier join the board, stating that they are "seasoned, global executives who bring extensive financial expertise and business insight" to IP's Board of Directors.

Sutton also took the opportunity to thank Ilene S. Gordon for her contributions to the IP Board over the past 12 years. Ms. Gordon has retired from the Board citing personal and health reasons, effective May 21, 2024. She has been a valuable member of the board, serving as the lead independent Presiding Director for nearly five years and chairing the Governance Committee.

With these changes, the IP Board will consist of 11 directors, nine of whom are classified as independent directors. At its May 14, 2024 regular meeting, the Board appointed Clinton A. Lewis, Jr. as chair of the Governance Committee.

The addition of Ms. Beggs and Mr. Tozier to IP's Board of Directors is expected to bring a fresh perspective and valuable expertise to guide the company through its next phase of growth. With their extensive experience in finance and strategic transformations, they are well-equipped to contribute to IP's success in the future.
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