Crown Vantage To Relocate Corporate Headquarters To Cincinnati.OAKLAND, Calif.--(BUSINESS WIRE)--Aug. 13, 1999-- Crown Vantage Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CVAN CVAN Attack Aircraft Carrier (Nuclear Propulsion) CVAN CINCPAC Voice Alert/Automated Net ) said today it has begun the relocation of its corporate headquarters to Cincinnati from Oakland, a process expected to be completed by early next year. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President Robert A. Olah said, "We've chosen Cincinnati because of its central location to our manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. , all of which are east of the Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. , and to the heavy concentration of printing and packaging papers customers in the Eastern half of the United States. "Both the company's Specialty Papers Business and Printing and Publishing Papers Business are already headquartered there, and we have the basic infrastructure in place to facilitate this transition." Olah said three officers have chosen to remain in California rather than relocate and will be leaving the company in the coming weeks. The senior vice presidents are Christopher M. McLain, general counsel and secretary; Antoinette Gabriel, chief administrative officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive , and Katie Cutler, corporate communications. "With the sale during this quarter of our New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). mills, we have initiated a major effort to reduce overhead costs overhead costs see fixed costs. ," Olah said. "While we are sorry to lose three such valuable members of the original Crown Vantage management team, we will take this opportunity to reduce the size of our management team as we consolidate in Cincinnati. There will continue to be a corporate staff group in Oakland for the immediate future, although we expect further consolidation of support activities at our headquarters site in Cincinnati." At the same time, Olah announced that Evan C. Davis has been named senior vice president, administration and general counsel, as the company combines the general counsel, corporate secretary and chief administrative officer positions in Ohio. Davis comes to Crown Vantage from Fort James Corporation, where he has been vice president, human resources, for the recently divested Packaging Division since 1993. His prior experience includes private law practice and nine years as vice president, employee relations and administration, for Packaging Corporation of America. He holds a mechanical engineering degree from Stevens Institute of Technology Stevens is known for its rigorous engineering, science, and technological management curricula. Among the prominent research centers of Stevens is the Davidson Laboratory, Wireless Network Security Center, Keck Geotechnical Laboratory, Plasma Physics Laboratory, Nicoll Environmental and a juris doctor The degree awarded to an individual upon the successful completion of law school. Juris doctor, or doctor of Jurisprudence, commonly abbreviated J.D., is the degree commonly conferred by law schools. degree from Detroit College of Law, now affiliated with Michigan State University Michigan State University, at East Lansing; land-grant and state supported; coeducational; chartered 1855. It opened in 1857 as Michigan Agricultural College, the first state agricultural college. . Comprising the new senior leadership team based in Cincinnati in addition to Olah and Davis will be Executive Vice President and Chief Financial Officer R. Neil Stuart; Senior Vice President and Chief Accounting Officer Michael J. Hunter, and the two business leaders, Edward A. Fusakio, senior vice president, Specialty Papers, and Charles E. Whitaker, senior vice president, Printing and Publishing Papers. In conjunction with the relocation, the company has a study under way to identify other opportunities to reduce general and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. while improving service to customers. Action based on that consultant study is expected before the end of the year. "There is tremendous potential for cost savings as we concentrate our people in Cincinnati, while at the same time improving management systems, decision-making and profitability," Olah said. "It's premature to discuss the net financial benefit of the relocation and redesign of corporate support functions until the consultant study is complete. At that time more information will be made public." The Crown Vantage headquarters has been in Oakland, since its spin-off from the former James River Corp., in 1995. Most of the original Crown Vantage officers had previously been located with James River in their Kaiser Center office in Oakland. About 40 Crown Vantage employees currently work in Oakland. Crown Vantage has occupied offices in the Blue Ash area of Cincinnati since its incorporation and is close to finalizing leasing arrangements to move the headquarters into a nearby facility. Crown Vantage is one of the world's leading manufacturers of value-added papers for printing, publishing and specialty packaging. With nine mills internationally, the company has capacity to manufacture more than 750,000 tons of specialized papers per year. The company's diverse products are tailored for the special needs of target markets. End users include specialty magazines and catalogs, financial printing and corporate communications, packaging and product labels, coffee filters and disposable medical garments -- and hundreds more. For more information, visit www.crownvantage.com. |
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