Wausau Shareholder: 'Our Patience Has Run Out'

Another major Wausau Paper shareholder is calling for reorganization of the company’s board of directors and is asking the board to hold management “accountable for serious execution missteps.”

LionEye Capital Management, which owns 1.9 million shares of the company or 3.7 percent of the total common shares, made the request in a letter sent Wednesday to all Wausau Paper board members.

“Our funds have been invested for over 2½ years and throughout this period we have been very patient in our interactions with you,” the letter said. “Our patience has run out…"