Following the separation, Tim Nicholls—currently EVP and President of DS Smith—will serve as CEO of the standalone EMEA Packaging business. Nicholls described the EMEA Packaging business as a leading provider of innovative, sustainable packaging solutions across Europe. He also said the company expected fourth-quarter volume growth to outpace the underlying market by 3–4 percentage points. For the fourth quarter of 2025, Loeffler walked through sequential adjusted EBITDA drivers, concluding with adjusted EBITDA of $560 million for North America. About International Paper (NYSE:IP)International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging.