“Paul has managed to build an atmosphere of trust and mutual understanding between Russian shareholders and the shareholders of International Paper. In six years, the company under Paul’ leadership reached strategic goals set out at the start of the joint venture, and is completing the largest investment program in the industry of more than 1.5 billion US dollar. From the whole Ilim Group I want to thank Paul and wish him continued success”, said Zakhar Smushkin, Illim Group chairman.

International Paper, Chairman and CEO, John Faraci said “Paul will leave a lasting legacy on the people and companies he has worked with throughout his 47 year career in the industry. He spent 21 years with IP with his last six years at IP/Ilim in Russia. His work spans almost every continent – in places like Canada, Chile, Brazil, United States, Belgium, Germany, Spain, France, China, India and Russia. The breadth and depth of his global experience is unmatched in the industry. We thank Paul for his many significant contributions and wish him the best in the years ahead.”

Franz Joseph Marx has been nominated as the candidate for next CEO of Ilim Group. Franz is currently president of International Paper, Russia. Prior to joining International Paper he was Partner and Managing Director at the Boston Consulting Group. Franz began his professional career with BASF and has worked throughout Europe, China, Middle East and Africa.