The annual reports and quarterlies for SAPPI may be worth a read for some (see link below). Jon Leslie resigned as SAPPI MD in March 2006. SAPPI had a couple of bad years prior to his leaving, although things appeared to be picking up for them just before he left. My take is that some of SAPPI's poor performance during the time he was their MD was out of his control - maybe he was in the wrong place at the wrong time.
jmo
Link to SAPPI financials site
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