PHILADELPHIA, July 23, 2015 /PRNewswire/ -- Crown
Holdings, Inc. (NYSE: CCK) today announced that John W. Conway, 70, has informed the Board of
Directors of his decision to retire from his role as Chief
Executive Officer, after 40 years with the Company, effective
January 1, 2016. The Board has
elected Timothy J. Donahue, 52, who
has been with the Company for 25 years, to assume the position of
President and Chief Executive Officer effective January 1, 2016.
Mr. Donahue currently serves as the Company's President and
Chief Operating Officer, a position he has held since 2013.
Prior to that, Mr. Donahue served as Executive Vice President and
Chief Financial Officer from 2008 to 2013, as Senior Vice President
– Finance from 2000 to 2008 and as the Company's Vice President –
Corporate Controller from 1991 to 2000. Mr. Conway has agreed to
remain on the Board and will continue to serve as non-executive
Chairman of the Board after his retirement. Additionally, the Board
has elected Mr. Donahue as a member of the Board, effective
today.
Mr. Conway commented, "I am proud of what we have accomplished
at Crown and I am confident that Crown is well positioned for the
future. Tim is ideally suited to succeed me as Chief Executive
Officer. He has an intimate understanding of the Company and has
gained valuable experience serving as both Chief Financial Officer
and Chief Operating Officer. We will continue to work closely
together to ensure a smooth transition. I look forward to
continuing my service on Crown's Board as non-executive
Chairman."
Mr. Donahue commented, "I am honored to have the opportunity to
serve as Crown's Chief Executive Officer and excited to lead our
efforts to build on the foundation John and the entire executive
team have put in place. I look forward to working with our
dedicated employees throughout the world to improve on our
strengths, such as our broad and diversified product portfolio,
global leadership positions, strong customer base, technological
leadership and commitment to sustainability."
Cautionary Note Regarding Forward-Looking
Statements
Except for historical information, all other
information in this press release consists of forward-looking
statements. These forward-looking statements involve a number of
risks, uncertainties and other factors that may cause actual
results to be materially different from those expressed or implied
in the forward-looking statements. Important factors that could
cause the statements made in this press release or the actual
results of operations or financial condition of Crown to differ are
discussed under the caption "Forward Looking Statements" in Crown's
Form 10-K Annual Report for the year ended December 31, 2014 and in subsequent filings made
prior to or after the date hereof. Crown does not intend to review
or revise any particular forward-looking statement in light of
future events.
About Crown Holdings, Inc.
Headquartered in
Philadelphia, PA, Crown Holdings,
Inc. is a leading manufacturer of packaging products for consumer
marketing companies around the world. Crown makes a wide range of
metal packaging for food, beverage, household and personal care and
industrial products and metal vacuum closures and caps. For more
information, visit www.crowncork.com.
For more information, contact:
Thomas T. Fischer, Vice President,
Investor Relations and Corporate Affairs, (215) 552-3720.
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SOURCE Crown Holdings, Inc.