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International Paper Names Marianne Parrs Chief Financial Officer

Press release from the issuing company

STAMFORD, Conn., Oct. 13 -- International Paper Chairman and Chief Executive Officer John Faraci today announced the appointment of Marianne Parrs Executive Vice President and Chief Financial Officer, effective immediately. "Having previously served as our CFO and having served most recently as interim CFO, Marianne is the right person to lead IP's finance functions going forward. She has been at the center of our strategic planning and decision making, which makes her the ideal person to take the CFO role as we execute our transformation strategy," Faraci said. Parrs, 61, joined International Paper in 1974 as a pension trust investment manager. She became senior vice president and chief financial officer in September 1995. She has also been director of Investor and Shareowner Relations, director of Corporate Communications, controller of Printing Papers and staff vice president of Tax. She was named executive vice president in 1999. More recently, she has been responsible for information technology and the company's supply chain improvement project.