IP elects new CEO

Andrew Silvernail, executive adviser at New York City-based global investment firm KKR & Co., has been elected the next CEO of International Paper (IP) and will succeed Mark Sutton effective May 1.

International Paper

Silvernail has two decades of experience leading manufacturing and technology sectors of global companies and previously served as CEO of Chicago-based Madison Industries. He also served as CEO of Northbrook, Illinois-based manufacturing company IDEX Corp. from 2011 to 2020, as well as executive positions at Rexnord Industries, Newell Rubbermaid and Danaher Corp.

“I am honored and proud to be part of International Paper, a strong and resilient company and a force for good in communities around the world,” Silvernail says. “Many things impressed me about IP, from the customers who rely on its essential products to the core values that drive its culture and its extraordinary sustainability platform.”

Sutton has been with IP since 1984 and spent his career in various positions, including mill manager, director of European corrugated packaging operations and vice president of supply chain. He was named CEO in November 2014.

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To “ensure a smooth and successful transition,” Sutton will continue his role as chair of the IP board of directors.

“The board’s succession process was comprehensive, and I’m confident that Andy’s experience paired with the industry expertise of our senior leadership team will amplify the company’s success going forward,” Sutton says.

“It’s been a privilege to work with the IP team for the past 40 years and to lead the company for the past decade—I am incredibly proud to be IP.”

IP, based in Memphis, Tennessee, not only is one of the largest global paper and packaging companies, but also one of North America’s largest recyclers. In 2023, the company consumed an estimated 5 million tons of recovered paper across its 28 mills, ranking second on Recycling Today’s largest scrap paper consumers in North America behind Atlanta-based WestRock.