David Ferraro, chairman and chief executive officer of Buckeye Technologies, Memphis. TN, will retire in September. In anticipation of Mr. Ferraro's retirement, the board has elected John Crowe, currently Buckeye president and chief operating officer, to the office of chairman and CEO succeeding Mr. Ferraro effective July 1.
Other key management changes are being made in accordance with the company's succession plan. Among them, Kristopher Matula, currently executive vice president and CFO, will succeed Mr. Crowe as president and COO. Steven Dean, currently vice president and controller, will succeed Mr. Matula as CFO.The other members of Buckeye's executive team will continue in their current roles.
In a recent statement, Mr. Ferraro said he feels comfortable retiring now because the company has a strong leader with wide industry experience ready to succeed him. “John Crowe has served as our president for the last three years. In addition to his Buckeye experience, he has held senior positions with Weyerhaeuser and Parsons & Whittemore,” he said.