ATLANTA, Oct. 3, 2016 /PRNewswire/ -- Veritiv
Corporation (NYSE: VRTV), a North American leader in
business-to-business distribution and logistics solutions,
announced its intention to form a new business segment, Veritiv
Services. The new segment will be part of Veritiv's long-term
strategy designed to accelerate growth across the
company.
"In just over two years as a public company, we have realized
impressive financial and integration results that are meeting and
exceeding the commitments we made to our shareholders, customers,
suppliers and employees. Today, we are taking an important
step in executing on our long-term growth strategy by announcing
the creation of Veritiv Services," said Mary Laschinger, Chairman and CEO of
Veritiv.
To support the new organizational structure, Laschinger also
announced the appointments of three senior executives to lead
Veritiv's Services, Print, and Packaging businesses. Reporting
directly to her and based at Veritiv's headquarters office in
Atlanta will be:
- Dan Watkoske, previously
Senior Vice President – Print, will take leadership of the new
Services segment as Senior Vice President – Veritiv Services.
Watkoske will be responsible for expanding and accelerating
value-added services to make the new segment a significant
portfolio business for Veritiv. Today, Veritiv offers a broad range
of logistics and value-added services that have tremendous growth
potential for the company.
- Darin Tang, previously
Senior Vice President – Packaging, will assume P&L
responsibility for Veritiv's approximately $3.5 billion industry-leading Print segment as
Senior Vice President – Print. His leadership, commercial skills
and proven track record will be an important asset to the company's
long-term print business.
- Tracy Pearson joins the
Veritiv Senior Leadership Team as Senior Vice President – Packaging
and will assume P&L responsibility for Veritiv's approximately
$2.8 billion industry-leading
Packaging segment.
Pearson joins Veritiv following a 22-year career with
International Paper (IP) where she most recently served as a Vice
President & General Manager. In this role she led the company's
$3 billion corrugated business in the
Southern U.S., Mexico and
Chile, where she oversaw 49
facilities.
Prior to this role, Pearson held leadership positions in IP's
Foodservice business, as well as their Container, Print and
Communications Paper businesses. She is a proven leader with
significant experience, and strong skills and knowledge in sales,
marketing, operations and supply chain. Pearson earned a
bachelor's degree in electrical engineering from the University of Minnesota.
"I am pleased to have Tracy join our Veritiv team, as well as
continuing to have the leadership and experience of Dan and Darin
as we embark on our growth strategy to create Veritiv Services,
expand our packaging business, and continue to be an industry
leader in our Print, Publishing and Facility Solutions businesses,"
Laschinger said.
Veritiv plans to build out the new Services segment over the
next 12-18 months, and begin reporting as a standalone segment in
2018.
About Veritiv
Veritiv
Corporation (NYSE: VRTV), headquartered
in Atlanta and a Fortune 500® company, is a leading North
American business-to-business distributor of print, publishing,
packaging, and facility solutions; and also a provider of logistics
and supply chain management services. Serving customers in a wide
range of industries, the Company has approximately 180 distribution
centers throughout the U.S., Mexico and Canada, and
employs approximately 8,800 team members worldwide that help shape
the success of its customers. For more information
about Veritiv and its business segments visit
www.veritivcorp.com
Safe Harbor Provision
Certain statements contained in
this press release regarding the Company's future operating
results, performance, business plans, prospects, guidance and any
other statements not constituting historical fact are
"forward-looking statements" subject to the safe harbor created by
the Private Securities Litigation Reform Act of 1995. All
forward-looking statements reflect only the Company's current
beliefs and assumptions with respect to future business plans,
prospects, decisions and results, and are based on information
currently available to the Company. Accordingly, the statements are
subject to significant risks, uncertainties and contingencies,
which could cause the Company's actual operating results,
performance or business plans or prospects to differ materially
from those expressed in, or implied by, these statements. The
Company is not responsible for updating the information contained
in this press release beyond the published date, or for changes
made to this document by unauthorized third parties. The Company's
filings with the Securities and Exchange Commission may contain
updates to the information included in this press release.
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SOURCE Veritiv Corporation