Glatfelter, a global manufacturer of specialty papers and fiber-based engineered products, announced an executive succession plan under which Chairman and CEO George Glatfelter II will retire as CEO on December 31, 2010, and Dante Parrini, the company’s executive vice president and COO, will be promoted to president and CEO concurrent with Mr. Glatfelter’s retirement. Mr. Parrini also will join the company’s Board of Directors effective immediately.
Mr. Glatfelter, who has been Chairman since 2000 and CEO since 1998, will remain on the company’s Board of Directors as its Non-Executive Chairman for a brief transitional period, after which time a new Chairman will be elected. Mr. Parrini has been with the company for 12 years.
“Over the last 12 years, we have made significant progress in repositioning our company to benefit our shareholders by creating a dynamic market-facing business model based on nimbleness, innovation, global reach and solid execution,” Mr. Glatfelter said. “We’ve also built a talented senior executive team that has generated an impressive track record of results. My personal interest has always been to retire at an age when I retain the ability to pursue other challenges and opportunities that life has to offer. I believe the time is now right – when the company is strong – for a seamless, orderly and progressive leadership transition within the company. Dante Parrini is a proven leader with the vision, energy and drive needed to capitalize on the growth opportunities before us. I have absolute confidence in his abilities. He is the right person to lead this company forward.”