News

PCA's Stecko Named Global CEO of the Year in Paper and Forest Products Sector

September 9, 2004

Paperloop, the leading information provider of the world's paper and forest products sector, is pleased to announce that Paul T. Stecko, chairman and CEO of Packaging Corporation of America, has been selected the 2004 Global CEO of the Year.

PCA, headquartered in Lake Forest, Ill., is the sixth largest producer of containerboard and corrugated packaging with sales of $1.7 billion in 2003 and 7,900 employees. It operates a system of four containerboard mills and 66 corrugated container plants in 25 states across the U.S. In 2003, the company produced more than 2.2 million tons of containerboard and shipped 28.1 billion sq ft of corrugated boxes.

Mr. Stecko will be presented with the award on Nov. 15, 2004 at Pulp & Paper Week's 12th annual Global Outlook Conference at the Roosevelt Hotel in New York.

Will Mies, Paperloop's editorial director, said Mr. Stecko was nominated in a survery of financial analysts, investment officers and portfolio managers, as well as editorial staff of Pulp & Paper Week and PPI This Week, Paperloop's weekly industry newsletters.

"Paul Stecko emerged as the top nominee in a field of outstanding executives," Mies said. "Analysts cited Stecko's consistent focus on producing shareholder value during a very difficult economy and at a time of intense global competition," he commented.

Paul T. Stecko has served as CEO of PCA since January 1999 and as chairman of PCA since March 1999. Over that time, he guided the company through its spilt with the former Tenneco Packaging, Inc. (part of which is now Pactiv Corp.), sale of a major ownership stake in Madison Dearborn Partners LLC, followed by an initial public offering (IPO) to shareholders.

Since the IPO, PCA's stock has doubled in value and the value of the original investors' stake has increased by more than five times. PCA has also cut over $1 billion of original debt, or 60% of the total at the time of the IPO despite challenging industry market conditions, according to comments by industry analysts in the survery.

PCA notes that its "focus on a single line of business not only differentiates us from our major competitors, but also helps us achieve levels of operational excellence that are highly respected in the industry."

From 1993 to 1997, Mr. Stecko served as the chief executive of Tenneco Packaging, then part of the Tenneco group of companies, which also included Tenneco Automotive. From 1997 - 1999, he served as chief operating officer, then president of Tenneco Inc. Prior to joining Tenneco Packaging, Mr. Stecko spent 16 years with International Paper Co. Mr. Stecko is a member of the board of directors of Tenneco Automotive Inc., State Farm Mutual Insurance Co., Cives Corp. and the American Forest and Paper Association.

Previous winners of the distinguished award are Raymond Royer, president and CEO of Domtar Inc. (2003); Steven Rogel, chairman, president and CEO of Weyerhaeuser Co. (2001 and 2002); John Dillon, chairman and CEO of International Paper Co. (2000); and Dr. Michael W.J. Smurfit, chairman and CEO of Jefferson Smurfit Group (1999).