| Glatfelter Reorganizes Corporate
York, Pennsylvania June 29, 2000: The P.
H. Glatfelter Company (NYSE: GLT), an international manufacturer of engineered and
specialty printing papers, today announced organizational changes in its senior management
structure to help the Company redesign its global business. The fundamental change in
business structure will drive the Company to attain a new level of financial performance.
The organizational change will align leadership to more effectively utilize the Companys assets to achieve its vision.
We believe that the changing business environment offers tremendous opportunity for our Company opportunity that we can realize only by aggressively executing our business strategy, said George H. Glatfelter II , Chairman, President & Chief Executive Officer. These leaders will be the architects and foundation builders as we create a business focused on the global needs of our customers and creating shareholder value, in part, through successfully integrating technology into our current business platforms.
Robert P. Newcomer , currently Executive Vice President and Chief Financial Officer, will relinquish his role as Chief Financial Officer in order to assume principle leadership of the Companys strategic initiatives. He will lead an intensive work effort that will define the organizational alignment of the Company, execute major changes in global business processes, and establish a new platform of information technology to support attainment of business goals. In his new capacity, Mr. Newcomer will also direct the Companys plan to achieve $50 million in sustainable annual cost savings. As Executive Vice President, he will continue to report to Mr. Glatfelter.
Other key organizational changes announced today include: Larry W. Nelson, from Assistant General Manager, Ecusta Division to Chief Operations Officer; C. Matthew Smith, from Vice President - Finance to Chief Financial Officer; and Robert S. Wood , from Vice President - Administration to Chief Strategy Officer.
Headquartered in York, Pennsylvania, P. H. Glatfelter Company operates domestic facilities in Pennsylvania, North Carolina and Wisconsin. International operations include facilities in Germany, France, Australia, the Philippines and Canada.
2000 The P.H. Glatfelter Company