Verso CEO to step down

The chief executive of a company that in 2015 acquired Dayton papermaker New Page will step down.

Verso Corp. announced Monday in a U.S. Securities and Exchange Commission filing that David Paterson will become the chairman of the board of Verso Corp. on its emergence from its Chapter 11 bankruptcy sojourn.

Paterson also has informed Verso’s board of directors that he intends to step down as the company’s president and chief executive when Verso finds his successor, but until then, he intends to continue to serve in this role, the filing said.

“Though there is no set timetable for Mr. Paterson’s departure, both Verso and he intend for the transition to occur in short order, with the objective that the new president and chief executive officer be in place to guide Verso as soon as practicable after it emerges from bankruptcy,” the SEC filing said. “Verso has engaged a search firm and is actively seeking a successor to Mr. Paterson.”

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