OREANDA-NEWS. Ilim Group announced that current contract of Paul Herbert who has been serving as CEO of Ilim Group for six years will be finishing on June 30th 2013.

Ilim Group Chairman Zakhar Smushkin in his comments expressed gratitude to Paul Herbert for the contribution he has made to the growth and success of Ilim Group. “Paul has managed to build an atmosphere of trust and mutual understanding between Russian shareholders and the shareholders of International Paper. In six years, the company under Paul’ leadership reached strategic goals set out at the start of the joint venture, and is completing the largest investment program in the industry of more than USD 1.5 billion. From the whole Ilim Group I want to thank Paul and wish him continued success”, - said Zakhar Smushkin.

International Paper, Chairman and CEO, John Faraci said “Paul will leave a lasting legacy on the people and companies he has worked with throughout his 47 year career in the industry. He spent 21 years with IP with his last six years at IP/Ilim in Russia. His work spans almost every continent – in places like Canada, Chile, Brazil, United States, Belgium, Germany, Spain, France, China, India and Russia. The breadth and depth of his global experience is unmatched in the industry. We thank Paul for his many significant contributions and wish him the best in the years ahead.”

Franz Joseph Marx has been nominated as the candidate for next CEO of Ilim Group. Franz is currently President of International Paper, Russia. Prior to joining International Paper he was Partner and Managing Director at the Boston Consulting Group. Franz began his professional career with BASF and has worked throughout Europe, China, Middle East and Africa.

“Franz has a diversified international experience, he knows Russia and our industry very well. We hope that he will be able to apply all his experience gained in the world's leading companies and International Paper, Russia in the new broader role,” stated Zakhar Smushkin.

“Franz has achieved solid results and demonstrated his strong leadership since he joined IP in 2008,” said Faraci. “He led the IP Russia team to a record financial performance last year and delivered six consecutive record quarters. His extensive experience in the region makes him the right fit for this important leadership position at Ilim.”

Final approval of Franz Joseph Marx candidature will take place during the next meeting of Ilim Group Board of Directors on the 24th of June.