Sylvamo's Board of Directors entered into a cooperation agreement with Atlas Holdings, its largest shareowner, adding two new independent directors to its Board. Effective March 1, Sylvamo will add Karl Meyers and Mark Wilde, expanding the company's Board to 11 directors.
The cooperation agreement includes customary restrictions and voting commitments. Sylvamo will nominate Meyers and Wilde for election with its other directors during its 2023 annual shareowners meeting.
The Board also determined it would terminate Sylvamo's shareholder rights plan immediately.
Karl Meyers
Karl L. Meyers has more than 40 years of experience in the paper sector, most recently serving as the chief executive officer and chairman of Soundview Paper Holdings, a leading manufacturer of towel and tissue products.
Mark Wilde
Mark W. Wilde served as a senior analyst in equity research for Bank of Montreal Capital Markets on the North American Paper, Packaging & Forest Products sector from 2014 through 2022. Before joining Bank of Montreal, Dr. Wilde spent more than 25 years at Deutsche Bank and predecessor firms BT Alex Brown and Bankers Trust.
Sylvamo is the world's paper company with mills in Europe, Latin America and North America.
