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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 23, 2023, the Board of Directors of Clearwater Paper Corporation (the “Company”) elected Rebecca A. Barckley as Interim Chief Financial Officer (“Interim CFO”), effective July 1, 2023. The Company is currently engaged in a search for a permanent Chief Financial Officer (“CFO”). Ms. Barckley will serve as Interim CFO until a permanent CFO is in place for the Company, and she will also continue in her role as Vice President, Corporate Controller, Principal Accounting Officer for the Company.
Ms. Barckley has assumed the duties and responsibilities of CFO from Michael J. Murphy will leave the Company on June 30, 2023, as previously reported.
Ms. Barckley, age 60, has served as Vice President, Corporate Controller of the Company since January 2020. Before joining the Company, Ms. Barckley worked for Louisiana Pacific Corporation (“LP”), a building materials manufacturer, where she spent 20 years in progressively increasing leadership roles in finance and accounting including from 2010 through December 2019, serving as LP’s Corporate Controller Financial Reporting, Principal Accounting Officer. Ms. Barckley earned her Bachelor of Business Administration, Accounting from California State University, Fresno.
Ms. Barckley does not have any family relationships with any of the Company’s directors or executive officers, there are no arrangements or understandings between Ms. Barckley and any other persons pursuant to which she was selected as an officer, and there are no transactions between Ms. Barckley and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
In connection with her appointment as Interim CFO, the Company approved the following additional compensation for Ms. Barckley that is commensurate with her additional duties as Interim CFO: a payment of $10,000 per month for each month Ms. Barckley serves in this capacity.
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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.
Date: June 26, 2023
CLEARWATER PAPER CORPORATION
| By: | /s/ Michael S. Gadd | |
| Michael S. Gadd, Corporate Secretary | ||
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