Rayonier Advanced Materials Inc., the Jacksonville-based maker of cellulose specialties products, is shaking up its top ranks while weighing its future. The company said Monday it has launched a formal review of strategic alternatives. At the same time, Chief Executive Officer Scott M. Sutton resigned effective immediately and the board installed an interim Office of the Chief Executive to steer the ship while options are evaluated.
Board hires advisers, names interim leaders
To run the review, the board has brought in Morgan Stanley & Co. as financial adviser and Wachtell, Lipton, Rosen & Katz as legal counsel. The interim Office of the Chief Executive will be led by Chief Financial Officer Marcus Moeltner together with senior vice presidents Michael Osborne, Christian Ribeyrolle and R. Colby Slaughter.
Board Chair Lisa Palumbo said directors and management are zeroed in on maximizing value for stockholders, and that recent unsolicited interest in the company made this feel like the right moment to test the market. The moves were detailed in a company news release, as reported by Jax Daily Record.
Financial strain behind the move
The shake-up follows a bruising year for RYAM. The company reported a net loss of $420 million for 2025 after generating roughly $1.5 billion in revenue, marking its seventh straight year of losses from continuing operations. In the fourth-quarter earnings release, Sutton did not sugarcoat it, saying "2025 was a challenging year for RYAM" while outlining steps the company hoped would restore cash generation and improve margins, according to Rayonier Advanced Materials.
Private equity interest and a recent bid
One of the catalysts in the background is private equity interest. American Industrial Partners made an unsolicited proposal in November to buy RYAM, a bid the board rejected in December. AIP later disclosed roughly a 5% stake in the company in a Feb. 25 Schedule 13D filing, a move that market coverage said sent RYAM shares sharply higher, according to Investing.com.
What the company says and what to expect
RYAM stressed that there is no set timeline for the strategic review and that it does not plan to provide ongoing updates unless it is legally required to do so. The company also warned there is no guarantee the process will lead to any transaction at all. While the review unfolds, the board said it will support the interim leadership team and work with advisers and an executive search firm to identify a permanent CEO, according to company disclosures summarized by StreetInsider.
Why Jacksonville should watch
RYAM operates manufacturing sites across the United States, Canada and France and generated about $1.5 billion in 2025. Any change in ownership or a major shift in strategy could ripple through supply chains and payrolls that touch Jacksonville. Given the company’s string of losses and the unsolicited interest circling it, regional business leaders and local investors are likely to keep a close eye on SEC filings and company disclosures. The company’s operations and recent results are laid out in its Rayonier Advanced Materials earnings release.
What to watch next: any 8-K filings, follow-up company releases or public comments from potential suitors. For now, executives in Jacksonville and shareholders everywhere are in wait-and-see mode as RYAM’s board decides whether this strategic review ends in a deal or in a renewed push to stabilize operations on its own.
