Edward L. Doheny II will Assume the Role of
CEO and President January 1, 2018
Doheny will Join Sealed Air as Director, COO
and CEO-Designate on September 18, 2017
Sealed Air Corporation (NYSE:SEE) today announced that Jerome A.
Peribere, Chief Executive Officer and President, has advised the
Company’s Board of Directors of his intent to retire at the end of
December 2017. As part of this planned succession, the Board
simultaneously elected Edward (Ted) L. Doheny II Chief Operating
Officer and CEO-Designate, and elected him as a Director of the
Company effective as of September 18, 2017. As COO of the Company,
Mr. Doheny will have responsibility for the operating businesses
and Supply Chain network and will report to Mr. Peribere. In
addition, Mr. Doheny will work on transitioning with Mr. Peribere
until December 31, 2017, and will then assume the role of CEO and
President, effective January 1, 2018.
William J. Marino, Chairman of the Board of Directors of Sealed
Air, said: “Under Jerome’s ‘Change the Game and Get Fit’
initiatives, Sealed Air has both exceeded performance expectations
and positioned itself well for the future. He has led our
transformation from a products-based company to a knowledge-based
company, created a more unified organization through Sealed Air’s
rebranding, dramatically improved employee engagement, and inspired
a culture obsessed with customer value creation and a renewed
commitment to sustainability. He also implemented new financial
disciplines – all of which have greatly improved our quality of
earnings and shareholder value.”
Mr. Marino continued; “Moving forward, we are extremely pleased
that Ted Doheny is joining the Company. He is an experienced and
transformational leader with a proven ability to drive profitable
innovation-based growth strategies. The Board is confident that Ted
is the right person to lead the next generation of growth and we
look forward to his leadership.”
Mr. Doheny served as Chief Executive Officer of Joy Global until
its sale to Komatsu in May 2017. Before becoming Chief Executive
Officer of Joy Global in December 2013, he was an Executive Vice
President at Joy Global, as well as President and Chief Operating
Officer of its Underground Equipment division. Prior to joining Joy
Global in May 2006, Mr. Doheny spent 21-years with Ingersoll-Rand,
where he held a variety of senior executive positions with global
responsibility, including President of Air Solutions and President
of Industrial Technologies.
About Sealed Air
Sealed Air Corporation is a knowledge-based company focused on
packaging solutions that help our customers achieve their
sustainability goals in the face of today’s biggest social and
environmental challenges. Our portfolio of widely recognized
brands, including Cryovac® brand food packaging solutions and
Bubble Wrap® brand cushioning, enable a safer and less wasteful
food supply chain and protect valuable goods shipped around the
world. Sealed Air generated $4.2 billion in sales in 2016 and has
approximately 14,000 employees who serve customers in 117
countries. To learn more, visit www.sealedair.com.
Website Information
We routinely post important information for investors on our
website, www.sealedair.com, in the "Investor Relations" section. We
use this website as a means of disclosing material, non-public
information and for complying with our disclosure obligations under
Regulation FD. Accordingly, investors should monitor the Investor
Relations section of our website, in addition to following our
press releases, SEC filings, public conference calls, presentations
and webcasts. The information contained on, or that may be accessed
through, our website is not incorporated by reference into, and is
not a part of, this document.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 concerning our business, consolidated
financial condition and results of operations. Forward-looking
statements are subject to risks and uncertainties, many of which
are outside our control, which could cause actual results to differ
materially from these statements. Therefore, you should not rely on
any of these forward-looking statements. Forward-looking statements
can be identified by such words as “anticipates,” “believes,”
“plan,” “assumes,” “could,” “should,” “estimates,” “expects,”
“intends,” “potential,” “seek,” “predict,” “may,” “will” and
similar references to future periods. All statements other than
statements of historical facts included in this press release
regarding our strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Examples of forward-looking statements include, among
others, statements we make regarding expected future operating
results, expectations regarding the results of restructuring and
other programs, anticipated levels of capital expenditures and
expectations of the effect on our financial condition of claims,
litigation, environmental costs, contingent liabilities and
governmental and regulatory investigations and proceedings. The
following are important factors that we believe could cause actual
results to differ materially from those in our forward looking
statements: the tax benefits associated with the Settlement
agreement (as defined in our 2016 Annual Report on Form 10-K),
global economic and political conditions, changes in our credit
ratings, changes in raw material pricing and availability, changes
in energy costs, competitive conditions, the success of our
restructuring activities, currency translation and devaluation
effects, the success of our financial growth, profitability, cash
generation and manufacturing strategies and our cost reduction and
productivity efforts, the success of new product offerings, the
effects of animal and food-related health issues, pandemics,
consumer preferences, environmental matters, regulatory actions and
legal matters, and the other information referenced in the “Risk
Factors” section appearing in our most recent Annual Report on Form
10-K, as filed with the Securities and Exchange Commission, and as
revised and updated by our Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. Any forward-looking statement made by
us is based only on information currently available to us and
speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170907006040/en/
For Sealed Air CorporationInvestors:Lori Chaitman,
704-503-8841orMedia:Ken Aurichio, 917-693-5417
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