After five months, Consiglio out at Rayonier Advanced Materials

The president and CEO left by mutual agreement of the board; Bloomquist named new CEO.

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  • | 8:46 a.m. May 31, 2022
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After just five months on the job, Vito Consiglio is out as president and CEO of Rayonier Advanced Materials Inc.

The company said May 31 that Consiglio left with the mutual agreement of the board of directors but gave no other details.

 De Lyle W. Bloomquist, who had been serving as nonexecutive chairman of the board, was appointed to succeed Consiglio as president and chief executive. 

Consiglio joined the Jacksonville-based maker of cellulose specialty products Jan. 1 after the retirement of CEO Paul Boynton.

Rayonier AM has been struggling to return to profitability and reported a first-quarter loss of $25 million.

In a May 4 conference call to discuss the results, Consiglio announced a new branding initiative for the company, saying it would be known as “RYAM” (pronounced “rye-um”), which is the company’s stock trading symbol.

Consiglio said the brand reflects the “bio-future” of the company.

Bloomquist has served on Rayonier AM’s board since 2014 and was named chairman in May 2020.

He previously was president of the global chemical business of Tata Chemicals Ltd. from 2009 to 2015 and CEO of General Chemical Industrial Products from 2004 to 2009.

“With De Lyle’s nearly 30 years of industry experience and success, the Board is confident he is the right leader to oversee the continued execution of our strategic plan,” said director Lisa Palumbo in a news release. Palumbo was appointed to succeed Bloomquist as chair of the board.

Bloomquist said in the release that Rayonier AM “remains on track to meet our prior guidance and deliver improved EBITDA in the second quarter and the full year 2022.”