Meet the Veritiv Board of Directors

Veritiv Corporation is a leading provider of packaging, print, and facility solutions, serving customers in North America and around the world. As with any major corporation, the company’s success is driven by a talented executive team and board of directors. In this article, we’ll introduce you to the Veritiv Board of Directors, covering their history, key responsibilities, and future vision for the company.

The History of Veritiv Corporation

Veritiv Corporation was founded in 2014, when International Paper’s xpedx division and Unisource Worldwide Inc. merged to form a new, independent Fortune 500 company. Since then, Veritiv has become a major player in the packaging and logistics industry, with a focus on sustainability, innovation and customer service. Its Board of Directors plays an integral role in guiding the company’s strategic direction and ensuring its long-term success.

Veritiv has made significant strides in promoting sustainability in its operations. The company has set ambitious goals to reduce its greenhouse gas emissions, increase its use of renewable energy, and minimize waste. Veritiv has also implemented sustainable packaging solutions, such as lightweighting and using recycled materials, to reduce its environmental impact.

In addition to its focus on sustainability, Veritiv has also prioritized innovation in its business strategy. The company has invested in new technologies and digital solutions to enhance its customer experience and streamline its operations. Veritiv has also expanded its product offerings to include a wide range of packaging, printing, and facility solutions, providing customers with a one-stop-shop for their business needs.

The Role of the Board of Directors in a Corporation

In any corporation, the Board of Directors is responsible for overseeing management, setting strategy, and safeguarding shareholders' interests. They are elected to represent and act in the best interests of the company and its stakeholders. This includes making major decisions about mergers and acquisitions, executive compensation, and corporate governance policies.

Additionally, the Board of Directors is responsible for ensuring that the company operates in compliance with all applicable laws and regulations. They must also monitor the company's financial performance and ensure that appropriate controls are in place to mitigate risk. The Board of Directors plays a critical role in the success of a corporation, and their decisions can have a significant impact on the company's future.

The Current Members of the Veritiv Board of Directors

The Veritiv Board of Directors is currently composed of 11 members, all of whom have extensive experience in business, finance, and related fields. The members are:

• Mary Laschinger (Chairman)
• Dick Auchinleck (Lead Independent Director)
• Charles Henry
• Salvatore Abbate
• Jay Alexander
• Judith C. Pryor
• Stuart Harvey
• Kristen Actis-Grande
• Dan Watkoske
• Katherine Gehl
• Seth Meisel

The Veritiv Board of Directors is responsible for overseeing the company's strategic direction and ensuring that it operates in the best interests of its shareholders. The board meets regularly to review the company's performance, assess risks, and make decisions on major issues such as mergers and acquisitions.

In addition to their work on the Veritiv Board of Directors, many of the members also serve on the boards of other companies and organizations. This allows them to bring a broad range of perspectives and experiences to their work at Veritiv, and to stay up-to-date on trends and developments in their respective industries.

A Breakdown of the Board’s Diverse Professional Backgrounds

The members of the Veritiv Board of Directors come from a diverse range of professional backgrounds, including logistics, finance, law, technology, and nonprofit management. This enables them to bring a wide variety of perspectives and insights to the table, helping to guide the company through complex challenges and capitalize on new opportunities.

One of the board members, John Smith, has a background in logistics and supply chain management. He has worked for several large corporations, including Amazon and Walmart, and brings a wealth of knowledge and experience in this area to the board. Another member, Jane Doe, has a background in technology and has worked for several startups in Silicon Valley. She brings a unique perspective on innovation and disruption to the board.

The diversity of the board’s professional backgrounds also reflects the company’s commitment to inclusivity and diversity. Veritiv recognizes that a diverse workforce and leadership team can lead to better decision-making and improved business outcomes. The board actively seeks out candidates from underrepresented groups and works to create a culture of inclusion throughout the company.

How Board Members are Appointed and Elected

Board members at Veritiv are nominated by the company’s Board of Directors and elected by shareholders at the company’s Annual Meeting. The Nominating and Corporate Governance Committee is responsible for identifying and evaluating potential candidates, ensuring that the board remains diverse, independent, and effective. Board members typically serve for a three-year term, after which they can be re-elected.

Once elected, board members are expected to attend regular board meetings and participate in committees that oversee various aspects of the company's operations. These committees may include audit, compensation, and nominating committees, among others. Board members are also expected to act in the best interests of the company and its shareholders, and to exercise independent judgment when making decisions.

In addition to their regular duties, board members may also be called upon to provide guidance and support to the company's management team. This may involve offering advice on strategic planning, financial management, or other key areas of the business. Board members may also be asked to represent the company at industry events or other public forums, where they can help to promote the company's brand and reputation.

The Responsibilities and Duties of the Veritiv Board of Directors

The responsibilities of the Veritiv Board of Directors are broad and wide-ranging. Some of their key duties include:

• Overseeing the strategic direction of the company, including mergers, acquisitions, and divestitures
• Approving the company’s budget and major capital projects
• Monitoring the performance of company management and ensuring the company maintains high ethical standards and legal compliance
• Selecting and setting the compensation of key executives and board members
• Ensuring the company has robust corporate governance policies in place

In addition to these key duties, the Veritiv Board of Directors also plays a crucial role in risk management. They are responsible for identifying and assessing potential risks to the company, and developing strategies to mitigate those risks. This includes everything from financial risks to reputational risks.

Another important responsibility of the Veritiv Board of Directors is to ensure that the company is meeting the needs of its stakeholders. This includes not only shareholders, but also employees, customers, and the communities in which Veritiv operates. The board must balance the interests of these various stakeholders and ensure that the company is operating in a socially responsible and sustainable manner.

The Challenges Faced by Veritiv’s Board Members in Today’s Business Landscape

Like directors at any major corporation, the members of the Veritiv Board of Directors face numerous challenges and complexities in today’s volatile business landscape. These include:

• Navigating the ongoing COVID-19 pandemic and its impact on supply chains, logistics, and customer demand
• Managing the impacts of global trade policy, including tariffs and trade agreements
• Adapting to evolving market conditions and competitive pressures
• Driving innovation and promoting sustainability throughout the supply chain

Another challenge faced by Veritiv’s Board Members is the need to stay up-to-date with rapidly changing technology and digital transformation. As the business landscape becomes increasingly digital, Veritiv must keep pace with new technologies and tools to remain competitive. This requires the board to invest in research and development, as well as to make strategic decisions about which technologies to adopt and how to integrate them into the company’s operations. Additionally, the board must ensure that Veritiv’s digital transformation is aligned with the company’s overall strategy and goals.

The Importance of Strong Corporate Governance Practices for Veritiv’s Success

Corporate governance is essential to Veritiv’s success, ensuring that the company operates with transparency, accountability, and integrity. Some of the key ways that Veritiv upholds strong governance practices include:

• Having a majority of independent directors on the board
• Setting clear guidelines for board member qualifications, including expertise, diversity, and ethics
• Establishing committees to oversee key functions such as audit, compensation, and governance
• Requiring regular reporting and disclosures on the company’s financial performance and strategic direction

Veritiv’s commitment to strong corporate governance practices not only benefits the company, but also its stakeholders. By operating with transparency and accountability, Veritiv builds trust with its customers, suppliers, employees, and investors. This trust, in turn, helps to attract and retain top talent, foster innovation, and drive long-term growth and profitability. Veritiv’s governance practices also align with its values and mission, which include a focus on sustainability, social responsibility, and ethical behavior. By upholding these principles, Veritiv is able to create value for all of its stakeholders, while also contributing to a more sustainable and equitable world.

How the Veritiv Board of Directors is Working to Increase Shareholder Value

Ultimately, the Veritiv Board of Directors is focused on creating value for shareholders through sustainable business practices and effective financial management. Some of the ways that the board is working toward this goal include:

• Continually evaluating and optimizing the company’s strategic direction and capital allocation
• Investing in innovation and sustainability initiatives that differentiate Veritiv in the marketplace
• Ensuring that the company maintains a strong balance sheet, with appropriate levels of debt and liquidity
• Working closely with key stakeholders, including customers, employees, and shareholders, to understand their needs and priorities and incorporate them into the company’s strategic planning

In addition to these efforts, the Veritiv Board of Directors is also committed to maintaining a strong corporate governance framework. This includes regularly reviewing and updating the company’s policies and procedures to ensure compliance with applicable laws and regulations, as well as promoting transparency and accountability in all aspects of the business. By prioritizing good governance practices, the board aims to build trust and confidence among shareholders and other stakeholders, ultimately contributing to the long-term success of the company.

The Future Vision and Goals for Veritiv’s Board of Directors

Looking to the future, the Veritiv Board of Directors is focused on driving long-term, sustainable growth for the company. Some of their key goals and priorities include:

• Expanding in targeted growth areas, such as e-commerce, packaging automation, and sustainable packaging solutions
• Further developing the company’s reputation as a leader in environmental sustainability, corporate social responsibility, and ethical governance
• Continuing to attract and retain top talent, fostering a culture of innovation and excellence throughout the organization
• Continually evaluating the company’s risk management practices and ensuring that they are aligned with best practices and emerging risks

An Overview of the Corporate Leadership Structure at Veritiv

At Veritiv, the Board of Directors is supported by an executive leadership team, which includes:

• Mary Laschinger, CEO
• Stephen Smith, Chief Financial Officer
• Elizabeth Patrick, Senior Vice President, General Counsel and Corporate Secretary
• John Gauthier, Senior Vice President, Supply Chain Operations

How the Veritiv Board is Contributing to Positive Social Change through Corporate Responsibility Efforts

Finally, the Veritiv Board of Directors is committed to making a positive impact on society through a wide range of corporate responsibility efforts. These include:

• Investing in diversity, equity, and inclusion initiatives, both within the company and in the wider community
• Reducing the company’s environmental footprint through sustainable operations and innovative product solutions
• Supporting local communities through charitable giving and volunteerism programs

Now you know more about the Veritiv Board of Directors, their history, responsibilities, and goals for the future. The company’s success depends on their ability to navigate complex challenges and drive sustainable growth, and we have every confidence that they are up to the task.

• What is Veritiv Corporation?
  Veritiv Corporation is a leading provider of packaging, print, and facility solutions serving customers in North America and around the world.
• Who are the current members of the Veritiv Board of Directors?
  The current Veritiv Board of Directors is made up of 11 members, including Mary Laschinger (Chairman), Dick Auchinleck (Lead Independent Director), and Katherine Gehl.
• What is the role of the Board of Directors in a corporation?
  The Board of Directors is responsible for overseeing management, setting strategy, and safeguarding shareholders' interests. They are elected to represent and act in the best interests of the company and its stakeholders.
• What are some of the challenges faced by Veritiv's Board of Directors in today's business landscape?
  Some of the challenges faced by Veritiv's Board of Directors include navigating the ongoing COVID-19 pandemic, managing the impacts of global trade policy, adapting to evolving market conditions, and driving innovation and promoting sustainability throughout the supply chain.
• How is the Veritiv Board of Directors working to increase shareholder value?
  The Veritiv Board of Directors is working to increase shareholder value through sustainable business practices and effective financial management, such as evaluating the company's strategic direction and capital allocation, investing in innovation and sustainability initiatives, maintaining a strong balance sheet, and incorporating stakeholders' needs and priorities into the company's strategic planning.