Diverse Project Mix
emphis will have a nice triple play of Fortune 500 corporate headquarters when International Paper completes its move from Stamford, Conn., next year, joining FedEx and AutoZone. The move will bring 95 IP executives to Memphis by the end of July 2006.
Those executives, with an average salary of $128,000 per year, will join some 3,000 IP employees already working in three main office campuses in the Memphis area. The company relocated its operational headquarters from New York City to Memphis in 1987. It has been headquartered in Stamford since 2001, when it moved into the offices formerly occupied by Champion International, which IP purchased in 2000.
"As we move the company's transformation plan forward, having our core leaders in one place will be critical," says Jerry Carter, International Paper's senior vice president for human resources, who led the project team that selected Memphis. "The decision to relocate our headquarters was not an easy one, but makes sense for us from an operational efficiencies standpoint."
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