ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Aug. 28, 2012--
Sealed Air Corporation (NYSE:SEE) announced that its Chief Executive
Officer, William V. Hickey, has advised its Board of his intention to
retire in March 2013. In connection with the transition, the Board of
Directors has elected him Chair of the Board effective September 1,
2012. Mr. Hickey will continue to serve as Chief Executive Officer of
the Company but will no longer hold the title of President.
The Board simultaneously elected Jerome A. Peribere President and Chief
Operating Officer of Sealed Air and appointed him as a director of the
Company effective September 1, 2012. As President and Chief Operating
Officer, Mr. Peribere will report to Mr. Hickey and be responsible for
the Company’s operating businesses, supply chain network and new
technology development.
William J. Marino, Lead Director of Sealed Air, stated, “This is the
next step in a succession planning process which has been underway for
some time.”
In March 2013 upon Mr. Hickey’s retirement, Mr. Peribere will assume the
Chief Executive Officer position, and Mr. Hickey will step down as Chair
of the Board but will continue to serve as a director of the Company.
Jerome Peribere, age 58, is a 35-year veteran of The Dow Chemical
Company who has worked throughout the world in a variety of leadership
roles. He was most recently President and Chief Executive Officer of Dow
Advanced Materials, a $12 billion revenue unit of Dow serving customers
in more than 130 countries. In this role, Mr. Peribere led the
integration of the Rohm and Haas acquisition and delivered significant
growth and cost synergies. Previously, Mr. Peribere spent most of his
career in Dow AgroSciences.
Mr. Marino said, “We are extremely pleased that Jerome Peribere is
joining Sealed Air. His extraordinary record of leadership at Dow, his
extensive global experience and his success in acquisition integration
will insure continued positive momentum for Sealed Air. In addition to
driving results, he has the same passion for customers and their needs
that has contributed to Sealed Air’s success over the years.”
Business
Sealed Air is a global leader in food safety and security, facility
hygiene and product protection. With widely recognized and inventive
brands such as Bubble Wrap® brand cushioning, Cryovac®
brand food packaging solutions and DiverseyTM brand cleaning
and hygiene solutions, Sealed Air offers efficient and sustainable
solutions that create business value for customers, enhance the quality
of life for consumers and provide a cleaner and healthier environment
for future generations. On a pro forma basis, Sealed Air generated
revenue of $8.1 billion in 2011, and has approximately 26,300 employees
who serve customers in 175 countries. To learn more, visit www.sealedair.com.
Forward-Looking Statements
Company statements in this press release may be "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 concerning our business, consolidated financial
condition and results of operations. These statements include comments
as to future events that may affect the Company, which are based upon
management's current expectations and are subject to uncertainties, many
of which are outside the Company's control. Forward-looking statements
can be identified by such words as "anticipates," "expects," "believes,"
"plan," "could," "estimate," "will" and similar expressions. A variety
of factors may cause actual results to differ materially from these
expectations, including: economic conditions affecting packaging
utilization; changes in raw material costs; currency translation
effects; and legal proceedings. For more extensive information, see
"Risk Factors" and "Cautionary Notice Regarding Forward-Looking
Statements," which appear in our most recent Annual Report on Form 10-K,
as may be revised and updated from time to time by our Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K, as filed with the
Securities and Exchange Commission. These reports are available on the
Securities and Exchange Commission's website at www.sec.gov
or our Investor
Relations home page at http://ir.sealedair.com.
Source: Sealed Air Corporation
Sealed Air
Investor Relations:
Amanda Butler, Executive
Director of Investor Relations
201-703-4210
or
Media:
Ken
Aurichio, Executive Director of Corporate Communications
201-703-4164
