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MEMPHIS, Tenn., Oct. 13, 2016 -- International Paper (NYSE: IP) today announced Carol L. Roberts, Senior Vice President and Chief Financial Officer, and William Hoel, Senior Vice President, Container The Americas, will retire on March 31, 2017.

"For more than 30 years, Carol and Bill have been key contributors to our success; they have been integral in leading our transformation to a more successful and sustainable company," said Mark S. Sutton, Chairman and CEO. "We will continue to benefit from the people and organizations they developed and we wish them all the best in retirement."

The company announced the following senior leadership transitions and the International Paper Board of Directors elected two new Senior Vice Presidents:

Glenn R. Landau has been named Senior Vice President, Finance, effective January 1, 2017, and will become the Company's Chief Financial Officer effective with the filing of the Company's 2016 Form 10-K in the first quarter of 2017. For the remainder of this year, he will transition his current responsibilities in Latin America.

W. Michael Amick, Jr., has been named Senior Vice President, Paper the Americas, effective January 1, 2017. Amick will continue to lead the Company's North American papers business and assume additional responsibilities for the Company's papers business in Latin America.

Timothy S. Nicholls has been named Senior Vice President, Industrial Packaging the Americas, effective January 1, 2017. Nicholls will continue leading the Company's North American industrial packaging business and assume additional responsibilities for the Company's packaging business in Latin America.

Gregory T. Wanta has been elected Senior Vice President, North American Container, effective December 1, 2016. Wanta will assume Hoel's previous responsibility for the Company's North American corrugated packaging business.

Catherine I. Slater has been elected Senior Vice President, Consumer Packaging. Slater will join International Paper from Weyerhaeuser Company, effective with the completion of the acquisition of Weyerhaeuser's pulp business, which she currently leads. Slater will assume responsibility for leading the Company's consumer packaging business, which includes the coated paperboard and foodservice businesses.

"We have experienced and accomplished leaders who are ready to step into new roles and accelerate our performance," said Sutton. "This new senior leadership team will enable us to continue to pursue our vision of being among the most successful, sustainable and responsible companies in the world."

About Carol L. Roberts
Roberts joined International Paper in 1981 and has helped lead the company as a member of the senior lead team since 2005. She led the company's North American industrial packaging business for seven years, building the foundation for a business that is a global leader in corrugated packaging. Serving as chief financial officer since 2011, Roberts has led a world-class finance organization with a relentless focus on ensuring the financial strength of the company. She earned the respect of her industry peers and the investment community throughout her 35-year career.

About William Hoel
In 1983, Hoel joined Masonite Corporation, which was later acquired by International Paper. He served as vice president and executive assistant to then Chairman and Chief Executive Officer John T. Dillon. During his career, Hoel led the Company's decorative products and wood products businesses and the corporate sales & marketing organization. For more than a decade, he has led the growth and optimization of the company's North American corrugated packaging business. Under his leadership, the company successfully integrated Box USA and the corrugated packaging units of Weyerhaeuser and Temple-Inland. Bill has served on the senior lead team since 2011.

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