Back.gif (1194 bytes)






P. H. Glatfelter Company Elects Robert P. Newcomer President and COO, Announces Search for CFO, Other Management Changes

York, PA, February 8, 2001 – P. H. Glatfelter Company (NYSE: GLT), an international supplier of specialty papers and engineered products, today announced that its Board of Directors elected Robert P. Newcomer to the position of President and Chief Operating Officer and said that it was undertaking a national search for a Chief Financial Officer.

Newcomer, 52, formerly Executive Vice President, has directed the Company’s strategic re-engineering initiatives, including the transformation of its global business processes, the realignment of its sales and marketing organization, the establishment of a new information technology platform and the implementation of an enterprise resource planning capability. Newcomer, who joined P. H. Glatfelter Company in 1972, will report to George Glatfelter II, 49, Chairman and Chief Executive Officer.

"For the past year, we have been engaged in a transformation of our business that will enable our Company to attain its Vision of becoming the global supplier of choice in specialty papers and engineered products. Bob Newcomer has served as the architect of this effort. This change in responsibility is part of a plan that was developed early in the transformational process," Glatfelter said. "Our Board’s action recognizes Bob’s proven leadership in guiding the changes we are pursuing to generate the operational excellence required to realize our Vision and better serve our customers," Glatfelter added.

"In keeping with our new organizational model, Bob Newcomer will lead our organization’s day-to-day operations," Glatfelter continued. "This will enable me to refocus my efforts from leadership of business operations to the identification and execution of strategic growth initiatives that are consistent with our Vision."

Newcomer has served as Executive Vice President of the Company since June 2000. Prior to that, he was Executive Vice President and Chief Financial Officer. He earlier served in a variety of financial management positions including Senior Vice President, Treasurer and CFO, Vice President – Treasurer, Assistant Corporate Controller and Corporate Manager of Budgets and Financial Analysis. Newcomer has a Bachelor of Arts degree in Economics from Millersville University and a Masters in Business Administration degree from Penn State University.

The Company also announced that it has engaged the national executive recruitment firm Salveson Stetson Group to assist it in identifying and recruiting a Chief Financial Officer. The search is expected to be completed in the second quarter. The Company indicated that it is seeking an executive who, in addition to having a strong financial management background, possesses broad experience in international finance and mergers and acquisitions. The Company, which had sales in 2000 of $724.7 million and net income of $44 million, is seeking to increase its sales to $1 billion by 2004. The position will report to Glatfelter.

The Company said that C. Matthew Smith, 42, who had served as Chief Financial Officer since last June, will become Corporate Controller upon completion of the CFO search.

The Company also said that several veteran members of its senior management group will retire within a year. They include Larry W. Nelson, 52, Chief Operations Officer; Leland R. Hall, 63, Vice President of New Product Development; and Robert L. Miller, 54, Vice President – Special Projects.

"We are extremely grateful to these executives for their long dedication to our Company and for the incalculable number of contributions they have made to P. H. Glatfelter Company over the years," Glatfelter said. "Combined, these three executives have nearly 100 years of service. They represent the spirit and greatness found in the people of P. H. Glatfelter Company. We wish them well as they enter this new phase of their lives and offer them our appreciation and heart-felt thanks for all of their efforts on our behalf."

Headquartered in York, Pennsylvania, P. H. Glatfelter Company is a global manufacturer of specialty paper and engineered products. U.S. operations include mills in Spring Grove, PA, Neenah, WI, and Pisgah Forest, NC. International operations include facilities in Germany, France, Canada, Australia and the Philippines. The Company’s common stock is traded on the New York Stock Exchange under the ticker symbol GLT.


2001 The P.H. Glatfelter Company