Mead, Westvaco Join Forces

Jerry Tatar, the chairman, president and CEO of Mead, will serve as chairman of the new company. John A. Luke Jr., chairman and CEO of Westvaco, will serve as president and CEO of MeadWestvaco. Both factions will have equal representation on the new board of directors.

"This is a strategically and financially compelling merger of equals that creates a stronger company, well-positioned to compete in a global industry," Tatar and Luke commented in a joint statement. "In joining these two organizations, we enhance our ability to deliver shareholder value, offer customers a broader array of high-quality, value-added products, and provide employees an opportunity to participate in an even more dynamic enterprise. We look forward to working together to realize the full potential of the new company.