The announcement was made by company CEO, Michael Entz.
“Tyler has been at Cosmopolis on the job in a consulting role since the Company started,” said Entz. “He has been building our financial structures and processes here at the mill and working closely with suppliers and consultants refurbishing the mill. It made sense, and it’s a great relief, that he accepted the job to stay and build the financial side of the company.”
Entz added that, over the past two months, activity had ramped up significantly as the mill aims at a May 1, 2011 start date. “As the restoration activity increases, the need for financial controls, structures and processes becomes critical to ensure the long term financial stability of the mill. A major part of that stability is to be globally competitive on the cost side.”
Before accepting the job as CFO at Cosmo Specialty Fibers, Inc., Tyler Spring was Managing Director of a mergers and acquisitions advisory firm working with private equity groups performing financial and operational due diligence, and fine-tuning pre- and post-acquisition strategy. Prior to that, he was CFO and board director for Spotlight Health, Inc., a privately-held healthcare consulting firm whose customers included top-20 biotech, pharmaceutical and medical device manufacturers as well as an executive with Sanmina-SCI, a public global electronics manufacturing services provider. He holds a BS in Finance from Rochester Institute of Technology and a Masters in Finance from UC Irvine. He has also taken executive management courses from Georgetown University in Washington, DC.
“The opportunity to be part of a team that is, essentially, restoring a huge part of the Gray’s Harbor economy made the decision to stay here an easy one,” said Spring. “And the professional challenge of building financial structures of a new company from the ground up does not come along very often. Success will mean 200 long-term, well-paying jobs.”
Cosmo Specialty Fibers, Inc., an affiliate of The Gores Group, has been formed to restore and operate the former Weyerhaeuser Specialty Cellulose mill in Cosmopolis, WA.