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 ATLANTA, Oct. 14 /PRNewswire/ -- Riverwood International Corp. (NYSE: RVW) today announced the appointment of George F. Varga to the new position of executive vice president and chief financial officer, effective Nov. 1.
 Varga, 57, joins Riverwood with more than 30 years of financial and international management experience with General Electric Co. He was named a GE corporate vice president in 1990. From January 1990 to January 1993 he served as president and chief executive officer, and in 1993 as chairman of the board, of GE's Tungsram Co., a lighting business division in Budapest, Hungary. Tungsram was the largest Western investment in Eastern Europe, with annual sales of approximately $400 million.
 "George will bring valuable experience to help strengthen our financial controls and practices and will greatly enhance our global financial capability," said Thomas H. Johnson, president and chief executive officer of Riverwood International. "He strengthens the top management team as we continue our coated paperboard expansion and our penetration of the global market for machinery-based packaging systems." Varga will report directly to Johnson, with responsibility for Riverwood's worldwide finance and administrative functions.
 During his career with General Electric, Varga held a series of increasingly responsible management positions. From 1987 to 1989, he served as general manager for specialty products in GE's European plastics business in the Netherlands. In 1985, he headed International Ventures for the plastics business group, with responsibility for operating existing and establishing new subsidiary companies and joint ventures in Latin America, Australia and Asia. In 1982, he was named general manager for the European plastic sheet and film business, also based in the Netherlands. Earlier, he held the top financial management positions at GE operations in Spain, the United States, Mexico and Switzerland.
 Varga holds a master's degree in economics from Stanford University and a bachelor's degree in economics from Western Maryland College, where he graduated cum laude in 1961 and received an honorary doctorate in Humanities in 1992.
 Riverwood International is a global paperboard, packaging and packaging machinery company headquartered in Atlanta with 1992 annual sales of $1.1 billion, assets of approximately $1.9 billion and 8,500 employees worldwide.
 -0- 10/14/93
 /CONTACT: Jim Caverlee (financial), 404-644-3023, or Jonna Manes (media), 404-644-3014, both of Riverwood International/

CO: Riverwood International Corp. ST: Georgia IN: PAP CST SU: PER

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Publication:PR Newswire
Date:Oct 14, 1993

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