Tufano to Retire as CEO of Unisource; Dragone Succeeds
Press release from the issuing company
ATLANTA--Feb. 27, 2004-- Unisource Worldwide, a leading distributor of printing and imaging papers, packaging systems, and maintenance supplies in North America, today announced that Chuck Tufano, Chief Executive Officer, has decided to retire from his position effective today. Allan Dragone, age 48, current President of Unisource Paper and former CEO of Graphic Communications, which was acquired by Unisource in September 2003, will succeed Mr. Tufano as CEO.
"With Unisource now firmly established as an independent company from Georgia-Pacific, and a solid management team in place, I feel this is the right time for me to step down and pursue other interests," stated Tufano. "Thanks to the dedication of the management and people of Unisource, we have made good progress on a number of fronts despite a challenging economic environment. I leave the Company in good hands."
"We appreciate the energy and commitment Chuck has brought to Unisource in establishing it as an independent company and moving it forward as a market leader in the paper distribution business," stated Edward Conard, a Managing Director at Bain Capital. "We are grateful for his invaluable contributions over the years and we wish him well in his retirement."
Tufano, age 59, joined Unisource in 1999 as President and served in that capacity until 2002 when he was promoted to CEO. He will serve as a consultant to the Company to ensure a smooth transition.
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