Verso Corporation announced that B. Christopher DiSantis has stepped down as President and Chief Executive Officer and member of the Verso Corporation board of directors effective as of April 5, 2019. Leslie Lederer, former chairman, interim president and CEO of Catalyst Paper Company, has been named as interim Chief Executive Officer as of April 5 in order to ensure a smooth transition until such time as a permanent CEO has been identified and retained. Verso's board of directors intends to undertake a robust succession process to find a successor for DiSantis, including a search process that will include internal and external candidates. "On behalf of the entire board, I want to thank Mr. DiSantis for his leadership and contributions to Verso's success and wish him the best in his future endeavors," said Co-Chairman of the Board Alan Carr. Co-Chairman Gene Davis added, "We are thrilled to have Les join us and, given his industry expertise and proven leadership qualities, we look forward to him leading our talented and experienced team." Click Read More below for additional detail.
Brazil’s Suzano Papel e Celulose SA (SUZB3.SA) will pay Fibria Celulose SA’s (FIBR3.SA) shareholders 52.50 reais ($15.92) per share in a merger that will create the world’s largest pulp maker, the companies said in statements on Friday.
Additionally, Fibria’s shareholders will receive 0.4611 shares of Suzano for every share they hold in Fibria.