International Paper has decided to relocate its global headquarters to Memphis,Tenn.,from Stamford,Conn.The company expects the move to be complete by Aug.1,2006."In light of the company's plan to become more focused and streamline our operations,we believe the timing is right to relocate our global headquarters to Memphis,because of the improved efficiencies that will result from having all of the company's leadership in one place," said chairman and CEO John Faraci.
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