Rayonier Advanced Materials (RYAM) has named Daniel Krawczyk as its CEO and president, adding him to the board as the company continues a review of strategic options.
In the role, Krawczyk will spearhead the company’s business activities and work with the board and its external advisers during the process aimed at assessing alternatives for shareholders.
RYAM board of directors non-executive chair Julie Dill said: “Dan is a highly accomplished executive with a strong track record of strategic transformation, operational execution and value creation.
“His experience leading complex industrial businesses and executing significant portfolio-shaping transactions makes him uniquely qualified to lead RYAM during this important period. The board is confident that Dan has the experience and drive to execute the strategic path that best serves RYAM's stockholders.”
Krawczyk most recently led Huber Engineered Materials as president. In that position, he managed a global industrial and speciality chemicals business with annual revenue of $1.3bn.
Over the past ten years, he directed changes to the portfolio and was involved in more than $2bn of merger, acquisition and divestiture activity.
Krawczyk said: “I look forward to working with the board, its advisors and the management team to ensure a rigorous evaluation of strategic alternatives intended to maximise value for our stockholders."
The board is continuing to examine a range of alternatives with support from Morgan Stanley.
RYAM said the review is in progress and that appointing a permanent chief executive “sharpens the focus” on both day-to-day business management and the review.
It added that no decision has been made on the outcome of that process and said the appointment should not be taken as an indication of any specific direction.
Before Krawczyk took the post, the board had set up an interim office of the chief executive officer that included chief financial officer Marcus J Moeltner, along with other executives.
That interim structure has now been dissolved, and its members will return to their previous duties while working with Krawczyk as part of the senior leadership team.
