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SAP - Sappi - New Non-Exec Director

Release Date: 30/04/2007 14:00
Code(s): SAP
Wrap Text

SAP - Sappi - New Non-Exec Director SAPPI Limited (Registration number 1936/008963/06) (Incorporated in the Republic of South Africa) Share code: SAP & ISIN: ZAE000006284) ("Sappi" or the "Company") 30 April 2007 Karen R Osar joins Sappi Limited Board Sappi Limited, the global pulp and paper group, today announced that Ms Karen R Osar will join the Sappi Limited Board with effect from 01 May 2007 as a non-executive director. Ms Osar (57), executive vice president and chief financial officer (CFO) of speciality chemicals company Chemtura Corporation until her retirement at the end of March 2007, has held various senior management and board positions in her career. She was vice president and treasurer for Tenneco Inc and has also served as CFO of Westvaco Corporation and as senior vice president and CFO of the merged MeadWestvaco Corporation. Prior to these appointments she spent 19 years at JP Morgan and Company becoming a managing director of the Investment Banking Group. She currently serves on the boards of Webster Financial Corporation and the Bank of New York Hamilton Mutual Funds and has chaired numerous board audit committees. She holds an MBA, Finance, from Columbia University in New York. END NOTE TO EDITORS: Additional information on Ms Karen R Osar: She holds a BA, Latin American Studies from Smith College, Northampton, MA as well as an MBA, Finance from Columbia University, New York, NY JP Morgan and Company: latterly as managing director, Investment Banking Group Tenneco, Inc: vice president and treasurer MeadWestvaco Corporation and Westvaco Corporation: senior vice president and chief financial officer 2004-2007 Chemtura Corporation: executive vice president and chief financial officer
1998-present Director of Bank of New York Hamilton Mutual Funds; Chair of audit committee 1999-2006 1998-2005 Director of Allergan, Inc; Chair of audit and finance committee 1999-2005
2003-2006 Director of Encore Medical Corporation; Chair of audit committee 2003-2006 2006-present Director of Webster Financial Corporation For further information: Andre F Oberholzer Group Head Corporate Affairs Sappi Limited (Reg No 1936/008963/06) Tel +27 (0)11 407 8044 Fax +27 (0)11 403 8236 Mobile +27 (0)83 235 2973 andre.oberholzer@sappi.com Date: 30/04/2007 14:00:06 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.