JACKSONVILLE, Fla.--(BUSINESS WIRE)--Feb. 20, 2018--
Rayonier Advanced Materials Inc. (the “Company”) (NYSE: RYAM) today
announced that the Company plans to add two new independent directors to
its Board of Directors at the upcoming 2018 Annual Meeting of
Stockholders, to be held on May 21, 2018.
Julie A. Dill will be one of the three Class I directors nominated by
the Company for election at the 2018 Annual Meeting, and, if elected,
will join the Board of Directors in May, at the same time as the
anticipated retirement of another director, Ronald Townsend, who has
served on the Board of Directors of the Company since 2014. Matthew P.
Hepler will join the Board of Directors at the same time as a Class III
director with a term expiring in 2020. As such, the Board of Directors
will increase in size from nine to ten.
Ms. Dill and Mr. Hepler collectively bring significant experience to the
Company’s Board of Directors in international business management
(including Canada, where the Company has extensive operations), the
chemical and energy industries, financial management and investor
relations, as well as the perspective of a current investor in the
Company. Biographical information on each of the new directors will be
included with the Company’s 2018 proxy statement.
“We are pleased to welcome Julie and Matt to our Board at this exciting
time in our history, given our recent transformational Tembec
acquisition,” said Paul Boynton, Chairman, President and CEO of Rayonier
Advanced Materials. “With the depth of knowledge and experience of our
current Board members and the addition of Julie and Matt, we feel
confident in our strategic direction and our ability to drive the growth
of long term, sustainable stockholder value.”
In connection with the appointment of Mr. Hepler, who is a Partner with
Marcato Capital Management L.P. (“Marcato”), a significant stockholder
of the Company, the Company has entered into an agreement with Marcato
governing Mr. Hepler’s membership on the Board of Directors. The
agreement, which provides for customary standstill, voting and other
commitments, will be filed with the Securities and Exchange Commission
together with a Report on Form 8-K.
About Rayonier Advanced Materials
Rayonier Advanced Materials is a global leader of cellulose-based
technologies, including high purity cellulose specialties, a natural
polymer commonly found in cell phones, computer screens, filters and
pharmaceuticals. The Company also manufactures products for
lumber, paper and packaging markets. With manufacturing
operations in the U.S., Canada and France, Rayonier Advanced Materials
employs approximately 4,200 people and generates approximately US$2
billion of pro forma revenues. More information is available at www.rayonieram.com.
Certain statements in this document regarding anticipated financial,
business, legal or other outcomes including business and market
conditions, outlook and other similar statements relating to Rayonier
Advanced Materials’ future events, developments, or financial or
operational performance or results, are “forward-looking statements”
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and other federal securities laws. These
forward-looking statements are identified by the use of words such as
“may,” “will,” “should,” “expect,” “estimate,” “believe,” “intend,”
“forecast,” “anticipate,” “guidance,” and other similar language.
However, the absence of these or similar words or expressions does not
mean a statement is not forward-looking. While we believe these
forward-looking statements are reasonable when made, forward-looking
statements are not guarantees of future performance or events and undue
reliance should not be placed on these statements. Although we believe
the expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance these expectations
will be attained and it is possible actual results may differ materially
from those indicated by these forward-looking statements due to a
variety of risks and uncertainties.
Other important factors that could cause actual results or events to
differ materially from those expressed in forward-looking statements
that may have been made in this document are described or will be
described in our filings with the U.S. Securities and Exchange
Commission, including our Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. Rayonier Advanced Materials assumes no obligation
to update these statements except as is required by law.
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Source: Rayonier Advanced Materials Inc.
Rayonier Advanced Materials Inc.
Mickey Walsh, 904-357-9162