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    Timothy S. Nicholls

    Senior Vice President and Chief Financial Officer at INTERNATIONAL PAPER CO /NEW/
    Since June 2018
    Age
    63 years
    Tenure
    Joined International Paper in 1999 and has since progressed through multiple leadership roles, including positions as Vice President, CFO across different regions, and executive responsibilities.

    Also at INTERNATIONAL PAPER CO /NEW/

    About

    Timothy S. Nicholls is a seasoned executive at International Paper, joining the company in 1999 after the acquisition of Union Camp Corporation.

    Throughout his career at International Paper, he has held several critical leadership roles, ranging from serving as the Vice President and CFO for IP Europe to his tenure as Senior Vice President and Chief Financial Officer.

    In June 2018, he resumed his role as Senior Vice President and CFO, a position that underscores his expertise in financial management and his commitment to driving corporate growth and strategic initiatives.

    Past Roles

    OrganizationRoleDate RangeDetails
    International PaperSenior Vice President - Industrial Packaging the Americas 2017-2018 Former role before current CFO appointment
    International PaperSenior Vice President - Industrial Packaging 2014-2016 Former role
    International PaperSenior Vice President - Printing and Communications Papers of the Americas 2011-2014 Former role
    International PaperVice President and Executive Project Leader of IP Europe 2007 Former role
    International PaperVice President and Chief Financial Officer - IP Europe 2005-2006 Former role
    Union Camp CorporationEmployee at Union Camp Corporation 1991-1999 Worked at Union Camp Corporation prior to its acquisition by International Paper

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$801,250 Annual salary effective March 1, 2024 Includes a 4.1% increase
    RSU Payout$204,710 Paid in 2024 as the first one‑third tranche of the 2023 RSU grant First one‑third tranche of the 2023 RSU grant
    All Other Compensation$138,008 Paid in 2024Breakdown: Retirement Savings Account Contributions $58,959; Company Matching $48,927; Group Life Insurance $3,808; ESIP $15,514; Company Matching Gift $10,800

    Performance Compensation

    Data from  FY 2024

    AIP Award

    • Amount: $1,516,080
    • Grant Date: January 1, 2024
    • Performance Metrics and Weights:
      • Adjusted EBITDA (70%): Achieved $1.986 billion (200% of target; 140% weighted)
      • Revenue (20%): Achieved $18.618 billion (95.4% of target; 19.1% weighted)
      • Cash Conversion (10%): Achieved 67.0% (200% of target; 20% weighted)
    • Total Performance Achievement: 179.1% of target

    LTIP Awards

    • LTIP RSUs:
      • Shares: 15,970
      • Grant Date Fair Value: $577,316
      • Grant Date: January 1, 2024
    • LTIP PSUs:
      • Share Metrics:
        • Threshold: 7,631 shares
        • Target: 61,050 shares
        • Maximum: 122,100 shares
      • Grant Date Fair Value: $2,309,216

    Performance Share Plan (PSP) Payout

    • Performance Metrics:
      • Adjusted ROIC:
        • Threshold: 3.0% (50% payout)
        • Target: 5.0% (100% payout)
        • Maximum: 8.0% (200% payout)
      • Relative TSR:
        • Threshold: 25th percentile (25% payout)
        • Target: 50th percentile (100% payout)
        • Maximum: 75th percentile (200% payout)
    • Weights: 50% each
    • Vesting Schedule: Earned over a three‑year performance period (2024–2026) with payout in early February 2027
    • Additional Conditions: Reinvestment of dividends earned on paid shares; MDCC adjustments if negative Adjusted ROIC or TSR