CMPC announces departure of its CEO Francisco Ruiz-Tagle after more than eight years in the role

The company reported that the executive will continue leading the administration until April 2027. The board has initiated a succession process that contemplates evaluating internal and external candidates.

Compañía Manufacturera de Papeles y Cartones (CMPC) confirmed the departure of its CEO, Francisco Ruiz-Tagle, who will leave the position in April 2027, after more than eight years at the helm of the company.

The decision was communicated through an essential fact filed with the Financial Market Commission (CMF), where the executive's resignation was formally reported.

Ruiz-Tagle has accumulated more than 35 years of experience at CMPC. The company highlighted his participation in business development, the internationalization of its operations, and the execution of strategic projects for the holding's growth.

Through a statement, the board thanked him for his management and noted that his trajectory has been relevant to consolidating the company's culture and values, as well as strengthening its capacity to face changes in international markets.

Succession process begins

Along with confirming the departure, CMPC reported that its board has launched a formal process to define who will assume the CEO position.

To this end, it established a special committee composed of directors, which will be responsible for evaluating possible successors, both within and outside the organization. The final decision will correspond to the board and will be communicated in due course.

The company stated that this procedure seeks to ensure an orderly transition in the conduct of its operations.

Reorganization of its businesses

The announcement comes during a period of significant strategic moves for CMPC, which in recent months has finalized agreements and advanced investment projects within and outside Chile.

Among them is the agreement to sell nearly 60,000 forest hectares in the Maule Region for more than US$365 million. The transaction also includes a long-term wood supply contract to supply the company's cardboard plant in that region.

In addition to this is the sale of its corrugated business to the Irish firm Smurfit Westrock for US$420 million, a transaction that included Envases Impresos Cordillera, Chimolsa, and the paper production of Puente Alto.

In parallel, CMPC continues advancing in the Natureza project in Brazil, an initiative that contemplates an estimated investment of US$4.460 billion and that recently obtained the prior environmental license from FEPAM, the environmental agency of Rio Grande do Sul.

These moves are part of a stage of reorganization of its assets and businesses, while the company also prepares a change in one of its main executive positions.