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Starboard Nominates 3 to Wausau Board

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UPDATE: Wausau Paper Announces President and CEO, Henry C. Newell, Steps Down
Starboard Sends Letter to Wausau Board, Says Hoping to Engage in Talks

Starboard Value LP (together with its affiliates, "Starboard"), the largest shareholder of Wausau Paper Corp. ("Wausau" or the "Company") (NYSE: WPP) with approximately 14.8% of the outstanding common stock of the Company, announced today that it filed preliminary proxy materials with the SEC regarding the election of directors to the Wausau Board at the 2013 Annual Meeting.  Starboard explained in its preliminary proxy that the current Board has been unwilling to explore value maximizing alternatives for the Company and has instead only been interested in maintaining the status quo unless faced with the pressure of an impending proxy contest. 

Posted-In: StarboardNews Management

 

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