MOSINEE, WI (WSAU) - The Wausau Paper Board of Directors will have a slightly different structure. The Mosinee based company announced Wednesday that an agreement has been reached with the investment firm that owns just under 15% of the Wausau Paper stock.
Starboard Value LP has recommended two new board members. When the 2013 Annual Meeting takes place, the board will go from eight members to nine. There will be seven independent directors, Thomas Howatt as the Non-Executive Chairman of the Board, and Henry Newell who is the President and Chief Executive Officer.
Board member Dennis Kuester will be leaving the board during the next reorganization, as he has reached a mandatory retirement age.
New board members agreed to by the involved parties will be John Kvocka and George Murphy.