UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
_________________
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report (Date of earliest
event reported): September
21, 2015
_________________
CLEARWATER
PAPER CORPORATION
(Exact
name of registrant as specified in its charter)
_________________
|
Delaware |
001-34146 |
20-3594554 |
|
(State or other jurisdiction |
(Commission File Number) |
(IRS Employer |
|
601 West Riverside Ave., Suite 1100 Spokane, WA |
99201 |
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (509) 344-5900
_________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 21, 2015, Danny G. Johansen, Senior Vice President, President Pulp and Paperboard Division, of Clearwater Paper Corporation (the “Company”) announced his decision to retire from that position. Patrick T. Burke, who currently serves as Senior Vice President, Consumer Products Division, for the Company will assume the newly created role of Senior Vice President, Group President effective October 1, 2015
A copy of the press release announcing the retirement of Mr. Johansen and appointment of Mr. Burke, which contains additional information, is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
99.1 Press release issued by Clearwater Paper Corporation, dated September 22, 2015.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Date: |
September 22, 2015 |
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CLEARWATER PAPER CORPORATION |
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By: |
/s/ Michael S. Gadd |
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Michael S. Gadd, Corporate Secretary |
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Exhibit No. |
Description |
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| 99.1 |
Press release issued by Clearwater Paper Corporation, dated September 22, 2015. |
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Exhibit 99.1
Clearwater Paper Announces Executive Changes
Danny G. Johansen to Retire and Patrick T. Burke Named Group President
SPOKANE, Wash.--(BUSINESS WIRE)--September 22, 2015--Clearwater Paper Corporation (NYSE:CLW) today announced the retirement of Danny G. Johansen as president of the company’s pulp and paperboard division. Patrick T. Burke, who currently serves as the company’s president of the consumer products division, will assume the newly created consolidated role of group president overseeing both the pulp and paperboard and consumer products businesses. Mr. Johansen is expected to continue to serve the company until the end of March 2016 to assist with the transition.
“Dan’s 42 years of service has not only been instrumental in helping shape our company, but his lifelong career as a positive and results-driven leader will serve as a legacy in the forest products industry for decades to come,” said Linda K. Massman, president and CEO. “On behalf of everyone at Clearwater Paper, we thank Dan for his countless contributions to the industry and the company.”
Prior to joining Clearwater Paper, Mr. Burke spent nearly 30 years in manufacturing, warehouse operations and supply chain management leadership positions for PepsiCo, Quaker Oats and Ralston Foods. While at PepsiCo, he managed the Western region of Gatorade with total sales of $4 billion. Mr. Burke received his Bachelor of Science from Jacksonville State University and his MBA from Ohio University.
“Pat’s drive and success bringing operational efficiencies to every part of our business is exactly what we need for our continued success,” said Massman. “Consolidated division leadership is another step towards building a more efficient and agile company that best serves our customers’ needs and can deliver more value to our stockholders.”
ABOUT CLEARWATER PAPER
Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters. Clearwater Paper's employees build shareholder value by developing strong customer partnerships through quality and service.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding executive officer changes and contributions, operational efficiencies, and the benefits of organizational change on customer service and shareholder value. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, competitive pricing pressures for the company's products, including as a result of increased capacity as additional manufacturing facilities are operated by the company's competitors; paperboard customers may adjust inventory through decreased purchasing; customer acceptance, timing and quantity of purchases of the company's new through-air-dried, or TAD products, or other tissue products; announced price increases for the company’s products may not be accepted in whole or part; the loss of or changes in prices in regards to a significant customer; changes in transportation costs and disruptions in transportation services; manufacturing or operating disruptions, including IT system failures, equipment malfunction and damage to the company's manufacturing facilities; changes in the cost and availability of wood fiber and wood pulp; labor disruptions; changes in the U.S. and international economies and in general economic conditions in the regions and industries in which the company operates; cyclical industry conditions; changes in costs for and availability of packaging supplies, chemicals, energy and maintenance and repairs; changes in customer product preferences and competitors' product offerings; increased supply and pricing pressures resulting from increasing Asian paper production capabilities; changes in expenses and required contributions associated with the company's pension plans; reliance on a limited number of third-party suppliers for raw materials; inability to successfully implement the company's operational efficiencies and expansion strategies; changes in laws, regulations or industry standards affecting our business; and other risks and uncertainties described from time to time in the company's public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2014. The forward-looking statements are made as of the date of this press release and the company does not undertake to update any forward-looking statements.
For additional information on Clearwater Paper, please visit the company's website at www.clearwaterpaper.com.
CONTACT:
Clearwater Paper Corporation
News media:
Matt
Van Vleet, 509-344-5912
or
Investors:
Robin Yim, 509-344-5906