MIAMISBURG, Ohio, April 11, 2019 /PRNewswire/ -- Verso
Corporation (NYSE: VRS) today announced that B. Christopher DiSantis has stepped down as
President and Chief Executive Officer and member of the Verso
Corporation board of directors effective as of April 5, 2019. Leslie Lederer, former chairman, interim
president and CEO of Catalyst Paper Company, has been named as
interim Chief Executive Officer as of April
5 in order to ensure a smooth transition until such time as
a permanent CEO has been identified and retained. Verso's
board of directors intends to undertake a robust succession process
to find a successor for DiSantis, including a search process that
will include internal and external candidates.
"On behalf of the entire board, I want to thank Mr. DiSantis for
his leadership and contributions to Verso's success and wish him
the best in his future endeavors," said Co-Chairman of the Board
Alan Carr. Co-Chairman Gene
Davis added, "We are thrilled to have Les join us and, given
his industry expertise and proven leadership qualities, we look
forward to him leading our talented and experienced team."
"I feel honored and privileged to have been part of Verso's
leadership team and board," DiSantis said. "The economic
turnaround driven by Verso's management and associates is a great
victory for stockholders. I leave the company in capable
hands, poised for continued success and wish my many colleagues the
brightest of futures."
About Verso Corporation
Verso Corporation is the
turn-to company for those looking to successfully navigate the
complexities of paper sourcing and performance. A leading North
American producer of specialty and graphic papers, packaging and
pulp, Verso provides insightful solutions that help drive improved
customer efficiency, productivity, brand awareness and business
results. Verso's long-standing reputation for quality and
reliability is directly tied to our vision to be a company with
passion that is respected and trusted by all. Verso's passion is
rooted in ethical business practices that demand safe workplaces
for our employees and sustainable wood sourcing for our products.
This passion, combined with our flexible manufacturing capabilities
and an unmatched commitment to product performance, delivery and
service, make Verso a preferred choice among commercial printers,
paper merchants and brokers, converters, publishers and other end
users. For more information, visit us online at versoco.com.
Forward Looking Statements
In this press release, all
statements that are not purely historical facts are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements may be identified by the words
"believe," "expect," "anticipate," "project," "plan," "estimate,"
"intend," "potential" and other similar expressions.
Forward-looking statements are based on currently available
business, economic, financial, and other information and reflect
management's current beliefs, expectations, and views with respect
to future developments and their potential effects on Verso. Actual
results could vary materially depending on risks and uncertainties
that may affect Verso and its business. Verso's actual actions and
results may differ materially from what is expressed or implied by
these statements due to a variety of factors, including those risks
and uncertainties listed under the caption "Risk Factors" in
Verso's Form 10-K for the fiscal year ended December 31, 2018 and from time to time in
Verso's other filings with the Securities and Exchange Commission.
Verso assumes no obligation to update any forward-looking statement
made in this press release to reflect subsequent events or
circumstances or actual outcomes.
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SOURCE Verso Corporation