Rayonier Advanced Materials launches strategic review and appoints interim CEO office

Rayonier Advanced Materials (RYAM) announced the launch of a formal strategic alternatives review aimed at maximising shareholder value. The review will assess a range of potential options, including a possible sale of all or part of the business, strategic investments, mergers or other combinations, as well as the continuation of the company’s standalone strategy.

In parallel, the Board of Directors has established an interim Office of the Chief Executive Officer following the resignation of President and CEO Scott M. Sutton, effective immediately.

The interim leadership team will consist of senior executives currently within the organisation: Marcus J. Moeltner, Chief Financial Officer and Senior Vice President Finance; Michael Osborne, Vice President Manufacturing Operations; Christian Ribeyrolle, Senior Vice President Biomaterials; and R. Colby Slaughter, Senior Vice President, General Counsel and Corporate Secretary.

Lisa M. Palumbo, Non-Executive Chair of the Board, stated: “The Board and management are focused on ways to maximize value for the Company’s stockholders. As we have recently received unsolicited indications of interest, we believe now this is the right time to evaluate options that may further advance that goal. Marcus, Michael, Christian and Colby are seasoned and highly capable leaders who have proven track records of success with RYAM.” She added that the interim leadership structure is intended to ensure continuity and maintain operational momentum while the Board conducts a search for a permanent CEO.

A dedicated committee of the Board will support the interim CEO office throughout the strategic review process. The company noted that no timetable has been set for the completion of the review and that there is no certainty that the process will result in a transaction or strategic change.