MEMPHIS, Tenn., March 16, 2011 /PRNewswire/ -- For the fifth consecutive year, International Paper was recognized by The Ethisphere Institute as one of the World's Most Ethical Companies. The designation recognizes companies that go beyond making statements about doing business "ethically" and instead, translate those words into action. According to the Institute, honorees demonstrate real and sustained ethical leadership within their industries, putting into business practice the Institute's credo of 'Good. Smart. Business. Profit.'
"Strong ethics provide the foundation for all that we do at International Paper," said John Faraci, chairman and chief executive officer. "Earning this recognition for the fifth year in a row is a reflection of doing things the right way, for the right reasons."
Sharon Ryan, vice president and chief ethics and compliance officer said, "Being named one of the World's Most Ethical Companies, for the fifth year running, is a validation of our Company's outstanding commitment to ethical leadership, compliance and social responsibility. We should all be proud of this recognition as it affirms ethics is indeed at the core of our culture."
Ethisphere Institute researchers and editors reviewed thousands of companies to determine the finalists. Among other criteria, the process included examination of codes of ethics, litigation and regulatory infraction histories; evaluations of investment in innovation and sustainable business practices; and activities designed to improve corporate citizenship.
About International Paper
International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tenn., the company employs about 59,500 people in more than 20 countries and serves customers worldwide. 2010 net sales were more than $25 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com
SOURCE International Paper