Paper Industry News
Reaction mixed to NewPage leadership shakeup
Saturday, 19, June 2010
The recent resignations of three NewPage executives and its change in leadership are garnering mixed reviews from business experts and paper industry leaders.Robert Nardelli, chief executive officer of Cerberus Operating and Advisory Co., an affiliate of NewPage parent Cerberus Capital Management, took over as the Miamisburg, Ohio-based company's board chairman after its former chairman, its CEO and its vice president of human resources all resigned last week.
"He comes with quite the reputation, to put it mildly," Marquette University business Professor Gene Laczniak said of Nardelli, who is the former head of Chrysler, Home Depot and General Electric Power Systems."He's a 'slash-and-burn' kind of guy," said Laczniak, who specializes in business ethics and corporate strategy. "People bring him in when they want to cut costs. This is something that would probably not bode well for employees at paper production plants in Wisconsin."
