RockTenn (NYSE:RKT) executive Steven Voorhees is ready for a change. He's been serving as the company's executive vice president, chief financial officer, and chief administrative officer all at once. This week, RockTenn announced that Voorhees will soon have just two titles: president and chief operating officer.
He will be in charge of the company’s operating businesses, including corrugated packaging, consumer packaging, and recycling
Explaining the decision to promote Voorhees out of three jobs and into two, RockTenn Chairman and Chief Executive Officer Jim Rubright said that "Steve has a tremendous ability to generate ideas ... In his new role, Steve will have the opportunity to continue to create value for our shareholders."
As for his old roles, a company spokesman said no decision has yet been made on who will take Voorhees' place in either the CFO or CAO positions.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Rock-Tenn Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.