The Board of Directors of IP India and IP-APPM, in a meeting held on 22 February have accepted his resignation. Swaminathan will continue to discharge his current responsibilities and support a smooth transition until the end of April 2017.
The company placed on record its appreciation for Swaminathan’s leadership and contribution in developing business in India, turnaround of International Paper APPM and in creating a strong organisation as per IP values.
Meanwhile, the company has announced the appointment of Don Devlin as president, International Paper India and as chairman and managing director for IPAPPM, succeeding Rampraveen Swaminathan at the end of April 2017.
Devlin has nearly 20 years of experience in International Paper, in various leadership roles. He joined the company in 1998 and has served in a number of finance, strategic planning and project management roles in the US and Europe. He will be based in Hyderabad.
International Paper is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, Asia and Russia.
International Paper APPM, a group company of International Paper in India, is a leading manufacturer of pulp and paper products and caters to both domestic and foreign markets with sales of Rs 1,166.27 crore for the year ended March 31, 2016. IPAPPM produces writing, printing and copier papers at its two manufacturing units in Andhra Pradesh, which have a total paper production capacity of 240,000 metric tonnes per year.