RockTenn CEO Jim Rubright to Retire, COO Steve Voorhees to Become CEO; Ward
Dickson to Join as CFO; Stephen Felker to Become Chairman of the Board;
Voorhees and Jenny Hourihan Elected to Board
NORCROSS, Ga., Aug. 2, 2013 (GLOBE NEWSWIRE) -- RockTenn (NYSE:RKT) today
announced that Jim Rubright will retire as chief executive officer and a
director on Oct. 31, 2013. Steve Voorhees, chief operating officer of
RockTenn, will become chief executive officer upon Rubright's retirement.
Voorhees joined RockTenn as chief financial officer in 2000 and became chief
financial officer and chief administrative officer in 2008, and president and
chief operating officer in January 2013.
Ward Dickson will join RockTenn on Sept. 16, 2013, as executive vice president
and chief financial officer with responsibility for finance, information
technology and procurement. Dickson currently serves as senior vice president
of finance for the global sales and service organization of Cisco Systems.
Dickson formerly served in financial roles at Scientific Atlanta and General
Stephen Felker, RockTenn's lead independent director and soon-to-be board
chairman stated, "RockTenn will lose a remarkable CEO with Jim Rubright's
retirement from the company.Under Jim's leadership, RockTenn has grown to
become a highly respected leader in the paper and forest products
industry.RockTenn's share price has increased more than eight fold and with
dividends earned a compound annual return of 18.6 percent – for 14 years."
Rubright stated, "I'm glad to be able to leave RockTenn with a strong and
talented leadership team.Steve Voorhees has been instrumental in developing
and executing our process improvement and acquisition strategies since he
joined RockTenn in 2000 and is a great choice to lead our company.We are also
pleased to have Ward Dickson join our team, bringing his proven leadership
talent and extensive experience in finance, sales and service.These two
proven leaders have demonstrated throughout their careers the same commitment
to excellence and customer service that consistently produces outstanding
results for RockTenn's customers and shareholders."
Felker will become chairman of the board of the company for a two-year term
commencing with Rubright's retirement from the company.Felker is the former
chairman and chief executive officer of Avondale, Inc. and has served on
RockTenn's board of directors since 2001.
RockTenn also announced that Voorhees and Jenny Hourihan have been elected to
the board of RockTenn.Hourihan is the chief executive officer of ORBIS
International, an international nonprofit organization that works in
developing countries to save sight.Hourihan served as chief financial officer
of Pro Mujer International, an international development organization offering
microfinance, health services and training to over 300,000 clients in Latin
America.Hourihan previously served as managing director and sector head of
the Paper and Forest Products Group at Bank of America and in other investment
roles at Merrill Lynch and the Salomon Smith Barney unit of Citigroup.
RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers
of corrugated and consumer packaging. RockTenn's 26,000 employees are
committed to exceeding their customers' expectations — every time. The Company
operates locations in the United States, Canada, Mexico, Chile, Argentina and
China. For more information, visit www.rocktenn.com.
John Stakel, 678-291-7901
Senior Vice President-Treasurer
Robin Keegan, 770-326-8245
Director, Corporate Communications
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