The move comes as the locally based paper products manufacturer and timber-growing conglomerate prepares to sell its communication papers business this month to Montreal-based Domtar Inc. for a so-far undisclosed sum. Paterson had been responsible for sales and manufacturing within the communication papers division.
He succeeds Stephen E. Macadam who is getting into another undisclosed business, according to Georgia-Pacific's prepared statement. Paterson has been with Georgia-Pacific since 1987.
The company is also paying a regular quarterly dividend Aug. 22 on two classes of common stock. Georgia-Pacific Group shareholders will received 12 ½ cents per share. The Timber Co. shareholders will be paid 25 cents per share. Holders of record on Aug. 13 are eligible for the dividends.
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