International Paper (NYSE:IP) has announced the departure of Tom Plath, who has served as Senior Vice President of Human Resources and Corporate Affairs for the company. Plath, who has been with the company for 33 years, was elected as senior vice president in 2017 and had his role expanded in 2023 to include responsibilities for human resources, aviation, real estate, communications, sustainability, and government relations.
With Plath's departure at the end of the year, his current responsibilities will be reassigned immediately, and he will serve in an advisory capacity through the end of the year to ensure a smooth transition. As of now, a replacement for his role has not been appointed.
International Paper, a global producer of sustainable packaging, pulp, and other fiber-based products, reported net sales of $18.9 billion for the year 2023. The company, headquartered in Memphis, Tenn., employs approximately 39,000 colleagues globally and serves customers worldwide, with manufacturing operations in North America, Europe, Latin America, and Africa. Following these announcements, the company's shares moved 1.7%, and are now trading at a price of $45.26. If you want to know more, read the company's complete 8-K report here.
