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Linda K. Massman To Succeed Gordon L. Jones As Clearwater Paper Chief Executive Officer

Clearwater Paper Corporation (NYSE:CLW) today announced that Linda K. Massman will become the company’s next chief executive officer, succeeding Gordon L. Jones, who will be retiring from his roles as chief executive officer and chairman of the board of directors, on December 31, 2012.

Ms. Massman, currently president and chief operating officer, will begin as president and chief executive officer, effective January 1, 2013. Ms. Massman will also join Clearwater Paper’s board of directors at that time. Additionally, vice chairman and lead director of the board, Boh A. Dickey, has been appointed chairman of the board, effective January 1, 2013.

“Linda has been an integral part of the company’s ability to design and execute its strategy from the beginning,” said Mr. Dickey. “She came to Clearwater Paper as one of the company’s original leaders after a rapid succession in finance and strategy development, and is now making the natural progression from chief operating officer to chief executive officer. She is the right person to lead Clearwater Paper as we enter our next phase of growth and development."

"I have had the pleasure of working closely with Linda since the company’s spin-off in 2008 and she has been an integral part of Clearwater Paper’s success,” said Mr. Jones. “Since that time, we have executed on our growth strategy and successfully transformed our company into one of the largest and most successful premium private label tissue and bleached paperboard producers in North America. Under Linda’s leadership, I am confident Clearwater Paper will continue to build on this track record of success.”

Ms. Massman was appointed vice president and chief financial officer of Clearwater Paper in 2008, then named president and chief operating officer in November 2011. Before joining Clearwater Paper, Ms. Massman was group vice president, finance and corporate planning, for SUPERVALU Inc. Prior to this, Ms. Massman worked as a business strategy consultant for Accenture. Ms. Massman has more than 20 years of corporate finance and business strategy development experience and earned a Bachelor of Business Administration from the University of North Dakota and an MBA from Harvard Business School.

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