OREANDA-NEWS. International Paper Russia announced that current President of IP Russia Franz J Marx was selected to become CEO of OJSC Ilim Group, a 50:50 joint-venture established in 2007 between International Paper and Ilim Holding. Effective July 1st Mr Marx will replace Paul Herbert the current CEO who is retiring after 47 years in the paper and pulp industry. Eric Chartrain, Vice President of European Papers for International Paper, will temporarily replace Mr Marx in charge of International Paper Russia as a search for a permanent replacement is conducted.

Commenting on the changes, Global Chairman and CEO John Faraci said “Franz has achieved solid results and demonstrated his strong leadership since he joined IP in 2008. 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.”