Turnaround at International Paper

In 2003, International Paper (IP) came under the leadership of new Chief Executive Officer John Faraci, a paper industry veteran who has spent his career in IP, across multiple functions and titles. The company had grown, organically and via acquisition, to be an international producer of kraft paper, coated paper and packaging, but hit a road block as growth had stagnated industry-wide. Faraci immediately launched a transformational campaign to turn the business around, even amid activist investors and other pressures. In this case, students will learn about how a large industrial company handles secular declines in demand and forms plans to turn around slowing top-line business as well as how it can be nimble in its operational and financial strategy.