ACCO Brands Corporation Announces CEO Transition Plan
08 Agosto 2023 - 5:05PM
Business Wire
President and Chief Operating Officer Thomas
Tedford Appointed Chief Executive Officer Effective October 1,
2023; Boris Elisman to Continue as Executive Chairman Before
Retiring in the first half of 2024
ACCO Brands Corporation (NYSE: ACCO) (the “Company” or “ACCO
Brands”), one of the world’s largest suppliers of select categories
of branded academic, consumer and business products, today
announced its Board of Directors has appointed the Company’s
President and Chief Operating Officer, Thomas Tedford, as CEO
effective October 1, 2023. Mr. Tedford has also been elected a
member of the board effective that date. Mr. Tedford will succeed
ACCO Brands current CEO, Boris Elisman, who will continue as
Executive Chairman until his retirement in the first half of 2024.
He has notified the Board that he will not stand for reelection at
the 2024 stockholders' meeting.
“The appointment of Tom as ACCO Brands next CEO is part of a
succession plan that Boris and the Board have been preparing over
the past few years,” stated Lead Independent Director, Thomas
Kroeger. “We have worked closely with Tom and have full confidence
in his commitment to creating value for our shareholders. He brings
deep knowledge of our industry, our customers, the overall Company,
and its operating segments to his new role. Tom has worked closely
with Boris and the Board in developing and executing on the
Company’s strategic transformation and will continue to do so,
assuring a smooth and seamless transition of leadership and
positioning us for profitable growth.”
“On behalf of everyone at ACCO Brands, we would like to thank
Boris for his exemplary leadership and dedicated service as CEO.
Boris’s innumerable contributions during his 18-year tenure, the
last 10 leading the Company as CEO, have successfully expanded the
growth opportunities for the Company,” Mr. Kroger concluded.
Mr. Elisman said, “During my tenure at ACCO Brands, the Company
and the industry have undergone significant changes and I am proud
of our teams’ accomplishments during this period. Having worked
closely with Tom for many years, I know the company is in great
hands to continue to progress and accelerate profitable growth. It
has been my privilege to lead this great company, and I look
forward to continuing to serve as Executive Chairman to ensure a
smooth transition.”
Mr. Tedford commented, “It is an honor to have the opportunity
to lead ACCO Brands and our talented team of dedicated employees as
we build upon the current momentum in our business. Boris has been
a great mentor and a tremendous leader. I have worked with him for
more than a decade and appreciate his leadership and bold actions
to transform ACCO Brands. I look forward to continuing to work
closely with Boris to complete this leadership transition.”
“I am grateful for the support of our Board of Directors and am
excited to work with them and our executive leadership team. I
believe there are immense opportunities to enhance our leadership
position in key categories, grow through share gains and new
innovative product solutions, optimize our supply chain, and
improve our margin profile as we remain focused on delivering
shareholder value and customer satisfaction. Near-term we are
committed to prioritizing our free cash flow towards supporting our
dividend and debt reduction,” added Mr. Tedford.
Thomas Tedford Bio
Mr. Tedford joined ACCO Brands in 2010 and was named President
and Chief Operating Officer in 2021. From 2011 to 2021, Mr. Tedford
served first as Executive Vice President and President of ACCO
Brands Americas ultimately becoming Executive Vice President and
President, ACCO Brands, North America. During his tenure, he
successfully led the operational, cultural and leadership
integrations of key strategic acquisitions, the introduction of new
products and the development of new markets. Prior to joining ACCO
Brands, Mr. Tedford had 15 years of progressive sales, sales
leadership, marketing, operational and executive management
experience, operating in highly competitive and demanding
industries. Mr. Tedford has expertise addressing complex
challenges, optimizing performance, developing growth strategies,
innovating product solutions, and building high-performing
teams.
About ACCO Brands Corporation
ACCO Brands, the Home of Great Brands Built by Great People,
designs, manufactures and markets consumer and end-user products
that help people work, learn, play, and thrive. Our widely
recognized brands include AT-A-GLANCE®, Five Star®, Kensington®,
Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More
information about ACCO Brands Corporation (NYSE: ACCO) can be found
at www.accobrands.com.
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