Koch executives to take key leadership roles at Georgia-Pacific

<p>Two Koch Industries Inc. executives will take key leadership roles at Georgia-Pacific Corp. after Koch's $13.2 billion acquisition of Georgia-Pacific is completed Friday.</p><p>Wichita, Kan.-based commodities conglomerate Koch said Thursday that its chief operating officer, Joseph W. Moeller, will become president and chief executive officer of Atlanta-based paper products giant Georgia-Pacific, the maker of Brawny paper towels and Angel Soft tissue.</p><p>Georgia-Pacific's current chief executive, A.D. "Pete" Correll, faced mandatory retirement when he turns 65 next April. When the acquisition was announced in November, the companies said Correll was expected to help with the transition.</p><p>Also Thursday, Koch said one of its executive vice presidents, Bill Caffey, will become a Georgia-Pacific executive vice president focusing on operations excellence and compliance.</p><p>Moeller and Caffey will resign from the Koch board of directors and will serve on the Georgia-Pacific board of directors that will be in place after the merger closes. That board will be chaired by Correll.</p><p>Lee Thomas, former Georgia-Pacific president and chief operating officer, is leaving the company, the companies said.</p><p>Georgia-Pacific will retain its name and operate from its Atlanta headquarters as a privately held, indirect wholly owned subsidiary of Koch.</p><p>The cash deal calls for Koch to assume $7.8 billion in Georgia-Pacific debt. With combined annual revenue of some $80 billion from the two companies, Koch would surpass food and farm products maker Cargill Inc. as the largest privately held company in the U.S.</p><p>___</p><p>On the Net:</p><p>HASH(0x1cda22c)</p><p>HASH(0x1cda2d4)</p>