» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
TDN Services
Research millions of people and properties [+]
Monitor any person, property or company [+]

Skip Navigation LinksHome >
VOL. 132 | NO. 10 | Friday, January 13, 2017

Verso Names New CEO

By Bill Dries

Print | Front Page | Email this story | Email reporter | Comments ()

Memphis-based Verso Corp. has named B. Christopher DiSantis as its new chief executive officer effective Feb. 1.

DiSantis comes to the paper and pulp company from being CEO of H-D Advanced Manufacturing Co. for the last four years. H-D makes motion control products in the aerospace and defense industries. Before that he was CEO of Latrobe Specialty Metal, which supplied alloys for aerospace and defense manufacturing before it was bought by Carpenter Technology Corp.

The announcement Thursday, Jan. 12, is the latest in a series of changes at a corporation facing a changing industry and a challenging market.

In November, the company announced it will move its headquarters from Memphis to Miamisburg, Ohio, in a consolidation of offices as the company set a goal of reducing its overhead expenses by 10 percent annually. The strategic plan, including the move out of Memphis, was to begin this month.

Verso filed for bankruptcy reorganization a year ago after reaching an agreement with creditors on the reorganization plan. It included a financing package of up to $600 million to allow the company to continue to operate day to day in the turnaround of the company.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 328 20,960
MORTGAGES 58 387 24,132
FORECLOSURE NOTICES 6 54 3,101
BUILDING PERMITS 170 842 43,435
BANKRUPTCIES 50 288 13,468
BUSINESS LICENSES 34 90 6,712
UTILITY CONNECTIONS 16 110 7,899
MARRIAGE LICENSES 32 91 4,734