Dive Brief:
- Global Cellulose Fibers announced this week it appointed former Graphic Packaging International executive Mike Doss as its CEO.
- GCF is in its first year under private equity firm American Industrial Partners, which completed its purchase from International Paper in January for $1.5 billion.
- Doss served as CEO of GPI for a decade before being replaced late last year. The decision drew blowback from some shareholders, but the board defended the move, noting a 50% decline in share price over the previous year.
Dive Insight:
GCF operates seven pulp mills and two converting facilities, with 3,300 employees spanning eight countries. Offering fluff, papergrade and specialty pulp products, the company says its 2025 annual revenue totaled approximately $2.5 billion. “This transition is about positioning the company for its next phase,” GCF Board Director Anne McEntee said in the announcement.
Under IP, the pulp business feeding towels, tissues, diapers and other personal care items generated nearly $2.8 billion in revenue in 2024. But IP opted to divest as it sought to become a pure-play packaging company. Up until now, GCF had been helmed by longtime IP leader Clay Ellis, who will continue on as a board advisor.
“GCF's mill system provides the highest level of security of supply and quality to its global absorbent customers in the industry and I’m looking forward to the opportunity to build on that foundation through innovation and biomaterials expansion,” Doss said in a statement. “My initial focus will be to listen, learn, and work with the team to drive long-term value creation and finalize the long-term plans for this new standalone business.”
Doss was named as one of the individual defendants in a class action lawsuit filed in New York last month targeting Graphic Packaging. The case focuses on the period from Feb. 4, 2025, and Feb. 2, 2026, and alleges that GPI and certain executives misled investors and violated federal securities laws. The lawsuit also claims that during that yearlong period in question, Doss sold nearly 1.6 million shares of company stock, “enriching himself by over $7 million.” There is a July 6 cutoff for joining the lawsuit. Defendants have not yet responded, per the court docket.
Doss has previously served on the board of the American Forest & Paper Association. In February he joined the board of directors for metal packaging manufacturer Crown Holdings.
