Rayonier Advanced Materials Shares Jump 21% On CEO Appointment

(RTTNews) - Rayonier Advanced Materials Inc. (RYAM) shares surged 21.93 percent on Monday, rising $1.28 to $7.14, after the company announced the appointment of Scott Sutton as Chief Executive Officer and President, effective January 5.

Sutton will succeed DeLyle Bloomquist, who previously announced his planned retirement and will remain on as an advisor to support leadership continuity and ongoing strategic initiatives.

The stock opened at $6.12, compared with a previous close of $5.86, and traded between $6.08 and $7.14 during the session.

Rayonier Advanced Materials was last trading at $7.05, with volume reaching about 1.34 million shares, more than double its average daily volume of roughly 583,370 shares.

Sutton brings more than 30 years of industry experience to the role and previously served as Chief Executive Officer and President of Olin Corp. Rayonier Advanced Materials shares have traded in a 52-week range of $3.35 to $8.56.