JACKSONVILLE, Fla. (From news reports) -- Rayonier Advanced Materials Inc. on Tuesday said Vito Consiglio has stepped down as president, chief executive and a director by mutual agreement with the board after just five months at the helm of the cellulose-products maker.
The Jacksonville, Fla., company said De Lyle W. Bloomquist, a board member since 2014 who became chairman in May 2020, will now serve as president and CEO.
Rayonier, which two years ago separated the posts of chairman and CEO, said board member Lisa Palumbo succeeds Mr. Bloomquist as nonexecutive chairman.
Mr. Consiglio joined Rayonier at the start of this year to succeed Paul Boynton upon his retirement as president and CEO. His appointment included an initial annual base salary of $1 million and annual bonus with a target bonus of 100% of his base pay.
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