APPLETON PAPER FIRES CFO

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APPLETON PAPER FIRES CFO

 user 2006-06-26 at 10:59:00 am Views: 53
  • #15860

    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.