Stephen J.
Smith to Retire, Eric J. Guerin to
Become SVP and CFO, Effective March 1,
2023
ATLANTA, Dec. 8, 2022
/PRNewswire/ -- Veritiv Corporation (NYSE: VRTV) today announced
that Stephen J. "Steve" Smith, the company's Senior Vice President
and Chief Financial Officer (CFO), has informed the Veritiv Board
of Directors that he intends to retire from the company in
September 2023. Eric J. Guerin, a seasoned finance leader, will
succeed Mr. Smith as Senior Vice President and CFO on March 1, 2023.
To ensure a smooth transition, Mr. Guerin will join Veritiv on
January 1, 2023, as Senior Vice
President – Finance, and will officially assume the role of Senior
Vice President and CFO on March 1,
2023. Mr. Smith will remain with the company in an advisory
capacity until his retirement on September
30, 2023.
"Steve was the second employee hired at Veritiv in 2014 and,
with the support of his team, made many contributions to our
company's strong financial foundation," Sal
Abbate, Veritiv's Chief Executive Officer, said. "He was
instrumental in standing up the Finance organization and
integrating our two legacy businesses smoothly. Steve's commitment
to supporting a seamless transition to Eric is consistent with how
he leads, and we wish him all the best in his next chapter."
Mr. Abbate continued, "Eric has extensive leadership experience,
strong financial acumen and a proven track record of driving growth
and leading high-performance finance teams. We are confident that
Eric will be an excellent addition to Veritiv and our leadership
team and look forward to partnering with Eric and benefitting from
his expertise."
Mr. Guerin most recently served as Executive Vice President and
Chief Financial Officer of CDK Global, formerly a publicly traded
provider of retail technology and software-as-a-service solutions.
In addition to CDK Global, he has spent more than 20 years in
finance leadership roles at publicly traded companies including
Corning Incorporated, Flowserve Corporation, Novartis, and Johnson
& Johnson. Mr. Guerin currently serves as a director on the
board of Skyworks Solutions, Inc. and was a director of Natus
Medical, Inc,. prior to it being acquired in 2022.
Mr. Guerin commented, "Veritiv is an outstanding company with
significant opportunities for future growth and value creation, and
I am honored to be named CFO. I look forward to working closely
with Steve during this transition period and working alongside Sal
and the entire leadership team to generate enhanced shareholder
value and ensure continued success for Veritiv."
About Veritiv
Veritiv Corporation (NYSE: VRTV), headquartered in Atlanta and a Fortune 500® company,
is a full-service provider of packaging, JanSan and hygiene
products, services and solutions. Additionally, Veritiv provides
print and publishing products. Serving customers in a wide range of
industries both in North America
and globally, Veritiv has distribution centers throughout the U.S.
and Mexico, and team members
around the world helping shape the success of its customers.
Safe Harbor Provision
Certain statements contained in this press release regarding the
transition of the CFO role, Veritiv's future financial performance
and strategic plans and any other statements not constituting
historical fact are "forward-looking statements" subject to the
safe harbor created by the Private Securities Litigation Reform Act
of 1995. Where possible, the words "believe," "expect," "will,"
"look forward" or other comparable expressions have been used to
identify such forward-looking statements. All forward-looking
statements reflect only the Company's current beliefs and
assumptions with respect to future results or other events, and are
based on information currently available to the Company.
Accordingly, the statements are subject to significant risks,
uncertainties and contingencies, which could cause actual results
or other events to differ materially from those expressed in, or
implied by, these statements. Factors that could cause actual
results to differ materially from current expectations include the
risks and other factors described under "Risk Factors" and
elsewhere in Veritiv's Annual Report on Form 10-K and in Veritiv's
other publicly available reports filed with the Securities and
Exchange Commission. The Company is not responsible for updating
the information contained in this press release beyond the
published date.
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SOURCE Veritiv Corporation