International Paper, the $25 billionmanufacturer of paper and pulp, appointed CarolRoberts CFO and senior vice president. She replacesTim Nicholls, the company's CFO since 2007, whowas named senior vice president of printing and communications forthe Americas. Roberts, 51, joined Memphis, Tenn.-based IP in 1981and has served as general manager of its Kraft Packaging and KraftPaper units, vice president of people development for the humanresources department and vice president of industrial packing.Roberts has been senior vice president of industrial packing since2005.

Sara Lee Corp., the $10.8 billion DownersGrove, Ill.-based food and beverage company, named MichelCup CFO and executive vice president of its internationalbeverage business, which the company plans to spin off next year.Cup, 42, most recently served as CFO and board member of Provimi, aDutch-based animal nutrition company. Earlier, he was financedirector at AkzoNobel and held several manager-level financepositions with baby food company Royal Numico.

Visteon Corp., the Van Buren Township, Mich.,automotive supplier with $7.4 billion in 2010 revenue, namedMartin Welch CFO and executive vice president. Hesucceeds William Quigley, who is leaving thecompany. Welch, 63, most recently served on the boards of DelphiCorp. and Northern Reflections. He was CFO and executive vicepresident at United Rentals from 2006 to 2008, and earlier servedas CFO at both Kmart and Federal-Mogul. Welch also served invarious finance positions at Chrysler.