MOSINEE, Wis. (WSAU-Wheeler News) -- Wausau Paper has appointed two new leaders.
The company announced the appointment of Michael C. Burandt as Chairman of the Board and Chief Executive Officer. Burandt has been the Interim CEO since April 2nd, and has been with Wausau Paper for two years.
Matthew L. Urmanski has also been appointed as President and Chief Operating Officer. Urmanski has been with Wausau Paper since 2000 in a variety of management positions.
Both executives are committed to pursuing a tissue-focused strategy to drive growth, increase earnings, and create shareholder value.
The Starboard Value hedge fund is Wausau's largest shareholder, and was able to get Burandt onto the company's board in 2012.
For the last three years, Starboard has used its minority ownership to criticize Wausau Paper's management plan. During that time, the 115-year-old company has shut down its long-running paper mills in Brokaw and Brainerd Minnesota -- and it sold paper mills in Rhinelander and Mosinee. Starboard has been publicly trying to convince Wausau Paper to sell its timber-lands in the state, and to move its only remaining building -- its Mosinee headquarters -- out of Wisconsin.