MEMPHIS, Tennessee -- International Paper has announced that the Board of Directors has elected Mark S. Sutton CEO, effective 1 November 2014 and chairman of the Board effective 1 January 2015.

Sutton currently serves as president and chief operating officer responsible for leading and running the company's global operations.

The company also announced the retirement of John V. Faraci, who has served as CEO and chairman of the board of directors since November 2003. He will remain CEO until October 31 and chairman until 31 December and will serve as a special advisor until he retires 28 February 2015.

The company also announced the following moves:

Thomas G. Kadien was named senior vice president, human resources, communications and global government relations along with current responsibilities for supply chain and IP India, effective November 1, and will continue to report to Sutton. Currently, he is senior vice president, N.A. consumer packaging, with responsibilities for operations in India and China.

Paul J. Karre, senior vice president, human resources and communications, will retire following a period of transition.

Timothy S. Nicholls was named senior vice president, industrial packaging effective November 1, and will continue to report to Sutton. Currently, he is senior vice president, printing and communications papers-the Americas.

William Hoel, who was acting senior vice president of industrial packaging, will resume his role as senior vice president, Container the Americas, reporting to Nicholls.

W. Michael Amick, Jr., was elected senior vice president, N.A. papers, pulp and consumer packaging, effective November 1, and will report to Sutton. Currently he serves as International Paper vice president and president, IP India, and as executive chairman, International Paper APPM Limited.

Glenn R. Landau was elected International Paper senior vice president, effective November 1, and will continue as president, IP Latin America, with responsibilities for operations in Brazil, and will report to Sutton.

Rampraveen Swaminathan was named president, IP India, effective November 1, and will report to Kadien. Currently, Swaminathan serves as IP vice president and managing director of IP APPM.