*NEWS*APPLETON PAPER FIRES CFO

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*NEWS*APPLETON PAPER FIRES CFO

 user 2006-06-26 at 10:58:00 am Views: 85
  • #15859

    Appleton Papers fires CFO
    Appleton Papers Inc. said late Monday that it has fired chief financial officer Dale Parker, claiming that he used company money for personal travel and other expenses.Parker had been placed on indefinite paid administrative leave on May 11. Chief executive officer Mark Richards is serving as as interim CFO.The firing resulted from recommendations from the audit committee of Appleton’s parent company, Paperweight Development Corp. The committee concluded that Parker intentionally submitted or approved expense reports that allegedly misrepresented personal travel and expenses as business expenses.The company did not disclose a dollar amount of the expenses, saying that it would have no material effect on Appleton’s financial results.Appleton Papers, which does business as Appleton, produces carbonless, thermal, security, inkjet and performance packaging products. Based in Appleton, the employee-owned company has 3,300 employees at plants in Wisconsin, Ohio and Pennsylvania.