RYAM (NYSE: RYAM) starts strategic review after abrupt CEO exit
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Rayonier Advanced Materials Inc. is launching a formal strategic alternatives review and has changed its top leadership. President and CEO Scott M. Sutton resigned effective April 16, 2026. The Board created an interim Office of the Chief Executive Officer, led by four senior executives, with CFO Marcus J. Moeltner serving as interim principal executive officer.
The Board is exploring a wide range of potential strategic, business and financial options, including a possible sale of all or part of the Company, strategic investments, mergers or other business combinations, or continuing its standalone plan. The review follows unsolicited indications of interest. RYAM reported $1.5 billion of revenue in 2025. The Board has not set a timetable and cautions there is no assurance the process will result in any transaction.
Positive
- Formal strategic alternatives review with top-tier advisors – RYAM is explicitly exploring options such as a sale, strategic investment, merger or other business combinations, with Morgan Stanley as financial advisor and Wachtell Lipton as legal counsel, after receiving unsolicited indications of interest.
- Clear interim leadership framework during transition – The Board established an interim Office of the CEO composed of four experienced executives, aiming to provide continuity while a permanent chief executive is identified.
Negative
- Sudden CEO resignation and leadership uncertainty – President and CEO Scott M. Sutton resigned effective immediately, prompting an interim management structure and a search for a permanent successor, which may raise questions about stability.
- Outcome of strategic review is uncertain – The Board has not set a timetable, and explicitly cautions there is no assurance the process will result in any transaction or strategic change.
Insights
RYAM begins formal strategic review after CEO exit, creating both opportunity and uncertainty.
RYAM has launched a comprehensive strategic alternatives review, engaging Morgan Stanley as financial advisor and Wachtell Lipton as legal counsel. The process was prompted in part by unsolicited indications of interest, and could include a sale of all or part of the company, a merger, strategic investment, or remaining independent.
Simultaneously, President and CEO Scott M. Sutton resigned, and the Board formed an interim Office of the CEO led by four senior executives, with CFO Marcus J. Moeltner as interim principal executive officer. This structure aims to maintain operational continuity while the Board, aided by an executive search firm, looks for a permanent successor.
The combination of a strategic review and leadership transition is a materially significant event that may reshape the company’s future structure or ownership, although the Board explicitly notes there is no assurance any transaction will occur and has set no timetable for completion.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Revenue: $1.5 billion
1 metrics
Revenue
$1.5 billion
Full-year 2025 revenue
Key Terms
strategic alternatives review, interim Office of the Chief Executive Officer, unsolicited indications of interest, forward-looking statements, +1 more
5 terms
strategic alternatives review financial
"the Company is engaged in a formal process to explore strategic alternatives to maximize shareholder value"
A strategic alternatives review is a process where a company examines different options for its future direction, such as selling parts of the business, merging with another company, or restructuring itself. This review helps management determine the best way to maximize value for shareholders. For investors, it signals that the company is exploring ways to improve its performance or unlock hidden worth, which can influence its stock price and strategic decisions.
interim Office of the Chief Executive Officer financial
"the Board has established an interim Office of the Chief Executive Officer following the resignation"
unsolicited indications of interest financial
"As we have recently received unsolicited indications of interest, we believe now this is the right time"
forward-looking statements regulatory
"Certain statements in this press release may constitute forward-looking statements within the meaning of the federal securities laws"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
standalone strategic plan financial
"as well as continuing to execute on the Company’s standalone strategic plan"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
April 21, 2026 (April 16, 2026 )
COMMISSION FILE NUMBER 001-36285
Incorporated in the State of Delaware
I.R.S. Employer Identification Number 46-4559529
(Principal Executive Office)
Telephone Number: (904 ) 357-4600
Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Trading Symbol
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Name of Exchange on which
Registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On April 16,
2026, Scott M. Sutton, who was then President and Chief Executive Officer of Rayonier Advanced Materials Inc. (“RYAM” or the “Company”), resigned as President and Chief Executive Officer of the Company.
(c) On April 19,
2026, the Board of Directors of the Company established an interim Office of the Chief Executive Officer to guide the Company through the transition period. The interim Office of the Chief Executive Officer consists of the following four current
executives:
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Marcus J. Moeltner, Chief Financial Officer and Senior Vice President, Finance;
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Michael Osborne, Vice President, Manufacturing Operations;
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Christian Ribeyrolle, Senior Vice President, Biomaterials; and
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R. Colby Slaughter, Senior Vice President, General Counsel and Corporate Secretary.
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Mr. Moeltner shall serve as interim principal executive officer for purposes of the rules and regulations of the U.S. Securities Exchange Commission.
Mr. Moeltner, age 62, has served as RYAM’s Chief Financial Officer and Senior Vice President, Finance since July 2019, bringing 35 years of experience across the forest products and consumer products industries. He rejoined Tembec Inc. in May 2008 as
VP Corporate Development and transferred to the Company’s headquarters in Jacksonville, FL, in January 2018 after RYAM’s acquisition of Tembec Inc. Prior to joining the Company, from 2005 to 2008, he was VP, Finance for Grant Forest Products Inc.
where he was responsible for leading a team accountable for financial analysis, treasury, cost accounting, risk management, and taxation across their business operations. From 2000 to 2004, he first started his tenure with Tembec Inc. and held
various roles including Director, Business Planning, and VP, Business Analysis and Control. Prior to that, Marcus was with Kimberly-Clark Corporation and held various positions in Ontario, France, England, and the United States.
Mr. Osborne, age 58, is Vice President, Manufacturing at RYAM, a role he assumed in April 2023. He is a 30-plus year manufacturing veteran, most recently holding the
position of Vice President, Global Manufacturing for Kraton Pine Chemicals. He was promoted to Director, Global Engineering in 2015, shortly before Arizona Chemical was acquired by Kraton in 2016. In December 2019, he was promoted to Director of
Global Manufacturing and, subsequently, Vice President, Global Manufacturing for the Pine Chemicals division. He began his career with Georgia Pacific and achieved the position of Director of Strategic Planning before he left in 2011 to join Arizona
Chemical Company as Senior Plant Manager at their Panama City, Florida facility.
Mr. Ribeyrolle, age 64, became RYAM’s Senior Vice President, Biomaterials in January 1, 2024. Prior to that, he was appointed Vice President, Biomaterials in November
2021, following a more than 35-year career in the paper and cellulose specialty business. He started at Tembec in 2003 as General Manager of the Tartas plant in France. He then joined RYAM following the acquisition of Tembec in November 2017.
At Tembec, since 2008, he has held the positions of Global Sales Director, CS, then Senior Vice President in charge of Sales and Production Services, and finally Executive Vice President in charge of the Cellulose Specialty Business Unit, which
includes production, sales, R&D and finance. He was also appointed President of Tembec France in 2010, a role he continues to hold at Rayonier AM France since the acquisition. Before joining the Company, he began his career in aeronautics,
and then worked in various management positions within the Ahlstrom group.
Mr. Slaughter, age 48, has served as RYAM’s Senior Vice President, General Counsel and Corporate Secretary since September 1, 2022. Prior to that, he was appointed Vice President, General Counsel and Corporate
Secretary in March 2020 and Assistant General Counsel in May 2016. He joined the Company’s predecessor, Rayonier Inc., in January 2013 as Senior Counsel, a role he continued in following the Company’s 2014 spinoff from Rayonier Inc. until his
promotion in 2016. Prior to joining Rayonier Inc., Colby was an Associate with the law firm of K&L Gates LLP from 2007 to 2013.
Item 7.01 Regulation FD Disclosure.
On April 20, 2026, the Company issued a press release announcing a comprehensive strategic alternatives review to maximize stockholder value, the resignation of Mr.
Sutton as President and Chief Executive Officer of the Company, and the establishment of an interim of the Office of the Chief Executive Officer. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
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99.1
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Press release entitled “Rayonier Advanced Materials Announces Comprehensive
Strategic Alternatives Review to Maximize Shareholder Value”
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104
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Cover page interactive data file (embedded within the Inline XBRL document)
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Signature
Pursuant to the requirements of the Securities Exchange Act of l934, the registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Rayonier Advanced Materials Inc.
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By:
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/s/ R. COLBY SLAUGHTER
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R. Colby Slaughter
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Senior Vice President, General Counsel and Corporate Secretary
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Date: April 21, 2026
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Exhibit 99.1
Rayonier Advanced Materials Announces Comprehensive Strategic Alternatives Review to Maximize Shareholder Value
Establishes Interim Office of the Chief Executive Officer
April 20, 2026 JACKSONVILLE, Fla.--
Rayonier Advanced Materials Inc. (“RYAM” or the “Company”) today announced that the Company is engaged in a formal process to explore strategic alternatives to maximize shareholder value. In connection with the strategic alternatives review, the
Company has engaged Morgan Stanley & Co. LLC as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel.
The Company also announced that its Board of Directors (“Board”) has established an interim Office of the Chief Executive Officer (“OFC”) following the
resignation of President and CEO Scott M. Sutton, effective immediately. The OFC will comprise current executives to guide the Company through this transition period, including Marcus J. Moeltner, Chief Financial Officer and Senior Vice President of
Finance; Michael Osborne, Vice President of Manufacturing Operations; Christian Ribeyrolle, Senior Vice President of Biomaterials; and R. Colby Slaughter, Senior Vice President, General Counsel and Corporate Secretary.
Lisa M. Palumbo, Non-Executive Chair of RYAM’s Board of Directors, stated, “The Board and management are focused on ways to maximize value for the Company’s
stockholders. As we have recently received unsolicited indications of interest, we believe now this is the right time to evaluate options that may further advance that goal. Marcus, Michael, Christian and Colby are seasoned and highly capable leaders
who have proven track records of success with RYAM. I am confident that they are well positioned to provide continuity and maintain momentum as the team continues to execute on our value-creating strategy, and the Board works with a leading executive
search firm to identify a permanent successor.”
Additionally, a committee of the Board will support the OFC as part of the strategic review process. The strategic review will consider a range of potential
strategic, business and financial alternatives, which may include, among other things, a sale of all or part of the Company, a strategic investment, a merger or other business combination, or other strategic or financial alternatives, as well as
continuing to execute on the Company’s standalone strategic plan.
The Board remains confident that its approach—which is grounded in disciplined governance, transparency, and a commitment to sustainable value creation—is in the
best interests of stockholders, customers, employees and all stakeholders. The Board has not set a timetable for completion of the strategic review and does not intend to provide updates unless and until it is determined that disclosure is
appropriate or required by law. There can be no assurance that the strategic alternatives review process will result in any transaction or other strategic change.
Office of the CEO – Member Biographies
Marcus J. Moeltner has served as RYAM’s Chief Financial Officer and Senior Vice President, Finance since July 2019, bringing 35 years of experience across the
forest and consumer products industries, including leadership roles at Tembec, Grant Forest Products, and Kimberly‑Clark.
Michael Osborne is Vice President of Manufacturing at RYAM, a role he assumed in April 2023, bringing more than 30 years of manufacturing and leadership
experience across Georgia‑Pacific, Arizona Chemical, and Kraton Pine Chemicals, where he most recently served as Vice President, Global Manufacturing.
Christian Ribeyrolle became Vice President Biomaterials in November 2021 following a more than 35-year career in the paper and cellulose specialty business. He
started at Tembec in 2003 as General Manager of the Tartas plant in France and went on to lead the HPC Business Unit. He then joined RYAM following the acquisition of Tembec in November 2017.
R. Colby Slaughter has served as RYAM’s Vice President, General Counsel and Corporate Secretary of the Company since March 21, 2020. Prior to that, he was
appointed Assistant General Counsel in May 2016. He joined the Company’s predecessor, Rayonier Inc., in January 2013 as Senior Counsel, a role he continued in following the Company’s 2014 spinoff from Rayonier Inc. until his promotion in 2016.
About RYAM
RYAM is a global leader of cellulose and derivatives commonly used in the production of filters, food, pharmaceuticals, high performance plastics, propellants and
various industrial applications. RYAM’s specialized assets, capable of creating the world’s leading cellulose specialties products, are also used to produce cellulose viscose pulp, cellulose fluff pulp, high-yield pulp and various value-added
derivatives, including paperboard, biofuels, bioelectricity and lignin. With manufacturing operations in the U.S., Canada and France, RYAM generated $1.5 billion of revenue in 2025. More information is available at www.RYAM.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the federal securities laws, including Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which can be identified by words such as “may”, “intend”, “believe”, “expect”, “anticipate”, “continue”, or other comparable words and references
to future periods. These statements involve a number of risks and uncertainties and RYAM cautions that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in
the forward-looking information. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors contained in RYAM’s Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as
other filings with the securities commissions.
MediaRyan Houck
904-357-9134
Investors
Daniel Bradley
904-549-7396
FAQ
What did Rayonier Advanced Materials (RYAM) announce in its latest 8-K?
Rayonier Advanced Materials announced a formal strategic alternatives review and the immediate resignation of President and CEO Scott M. Sutton. The Board formed an interim Office of the CEO to oversee operations while it evaluates options to maximize shareholder value.
What strategic alternatives is RYAM considering in its review?
RYAM’s Board is considering a broad range of options, including a sale of all or part of the company, a strategic investment, a merger or other business combination, or continuing with its standalone strategic plan, all aimed at maximizing shareholder value.
Who is leading Rayonier Advanced Materials after the CEO resignation?
Following Scott M. Sutton’s resignation, RYAM created an interim Office of the CEO comprising four senior executives. Chief Financial Officer Marcus J. Moeltner serves as interim principal executive officer, alongside leaders overseeing manufacturing, biomaterials and legal/corporate governance functions.
Why did RYAM initiate a strategic alternatives review now?
RYAM’s Board cited recent unsolicited indications of interest as a key reason to begin a formal strategic alternatives review. Directors believe the current timing is appropriate to evaluate potential transactions or partnerships that could further advance shareholder value objectives.
Is there a set timeline or guaranteed transaction from RYAM’s review?
No, RYAM’s Board has not set a timetable for completing the strategic review and explicitly notes there is no assurance it will result in any transaction or other strategic change. Future updates will occur only when considered appropriate or legally required.
How large is Rayonier Advanced Materials’ business today?
Rayonier Advanced Materials generated $1.5 billion of revenue in 2025. The company produces cellulose-based materials and derivatives used in filters, food, pharmaceuticals, high-performance plastics, propellants and industrial applications, with manufacturing operations in the United States, Canada and France.