Rayonier Advanced Materials Inc. (NYSE:RYAM) (the “Company”) today announced that De Lyle W. Bloomquist has been appointed President and Chief Executive Officer of the Company, effective immediately. Mr. Bloomquist succeeds Vito J. Consiglio, who has stepped down as President and Chief Executive Officer of the Company, and as a member of the Company’s Board of Directors (the “Board”), with the mutual agreement of the Board. In connection with Mr. Bloomquist’s appointment, the Board named Lisa M. Palumbo as Non-Executive Chair of the Board.
Mr. Bloomquist has served on the Company’s Board since 2014 and was named Non-Executive Chair of the Board in May 2020. He has decades of domestic and international leadership experience in the chemicals, minerals and materials industries, including in finance, sales, logistics, operations, IT, strategy and business development capacities. Mr. Bloomquist most recently served as a partner at Windrunner Management Advisors LLC, a management advisory services business, and prior to that served as the President, Global Chemical Business of Tata Chemicals Limited, and President, CEO and Director of Tata Chemicals North America Inc.
“I look forward to working closely with the Board and management team to improve the Company’s profitability by increasing operational reliability, countering inflationary supply chain pressures, focusing on employee engagement, and advancing the Company’s biorefinery and biomaterials strategy,” said Mr. Bloomquist. “As a result of these efforts, the Company remains on track to meet our prior guidance and deliver improved EBITDA in the second quarter and the full year 2022. I am confident in the Company’s ability to continue providing our customers with the sophisticated products, solutions and service that they have come to expect, while delivering enhanced value to our stockholders.”
Lisa M. Palumbo, Non-Executive Chair of the Board, said, “With De Lyle’s nearly 30 years of industry experience and success, the Board is confident he is the right leader to oversee the continued execution of our strategic plan. We are also fortunate to be able to call upon De Lyle’s deep knowledge of the Company, our strategic position, opportunities and the value of our dedicated team members. We look forward to benefiting from his expertise as we continue to execute on our strategic initiatives. I also want to thank Vito for his contributions and service to Rayonier Advanced Materials and wish him the best in his future endeavors.”
“It has been an honor and a tremendous opportunity to work with such a talented team. I could not be more excited about RYAM’s future,” concluded Mr. Consiglio.
https://investors.ryamglobal.com/news-details/?id=cd8b7fac-1eb8-4ff0-b5f0-97bfec83f7e4