York, Pennsylvania, USA, 03 March 2011 – Glatfelter (NYSE: GLT) today announced that George H. Glatfelter II, chairman of the board, has informed the board of directors of his intent to resign as chairman, effective at the company’s 2011 annual meeting of shareholders on 04 May 2011, and that he will not stand for re-election to the board in May. This action is part of the company’s previously announced leadership succession plan.
The board of directors has unanimously elected Dante C. Parrini to succeed Glatfelter as chairman, effective immediately following the annual meeting of Shareholders on 04 May 2011, assuming Parrini is reelected as a director of the dompany at that time.
“On behalf of my fellow directors, I wish to thank George for his many and significant contributions to Glatfelter during his 11-year tenure as chairman and 34 years with the company. He has set a high standard for all of us, as we continue to create increasing value for our shareholders,” said Lee C. Stewart, chair of the Nominating and Corporate Governance Committee. “While we will certainly miss George’s unique insight into the industry, the board has the utmost confidence in Dante’s ability to lead the company into this new era of sustained growth.”
As part of the company’s seamless and orderly leadership succession plan, Parrini succeeded Glatfelter as president and chief executive officer on 31 December 2010.
Headquartered in York, Pennsylvania, Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials, offering more than a century of experience, technical expertise, and world-class service. U.S. operations include facilities in Spring Grove, Pennsylvania, and Chillicothe and Fremont, Ohio. International operations include facilities in Canada, Germany, France, the United Kingdom, and the Philippines, a representative office in China, and a sales and distribution office in Russia. Glatfelter’s sales total approximately USD 1.5 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT. Additional information may be found at www.glatfelter.com.
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