CHARLOTTE, N.C., Feb. 14,
2025 /PRNewswire/ -- Sealed Air Corporation (NYSE:
SEE) announced today that Dustin
Semach has been appointed to serve as the President and
Chief Executive Officer, effective immediately. Mr. Semach will
also serve as a member of the Board of Directors and its Executive
Committee.
The Board of Directors and Patrick
Kivits have mutually agreed to transition Sealed Air's
leadership. Mr. Kivits has stepped down as Chief Executive Officer
and as a member of the Board, effective immediately.
Mr. Semach most recently served as the Company's President
and Chief Financial Officer. Veronika "Roni" Johnson, currently the
Chief Accounting Officer, has been appointed the Interim Chief
Financial Officer. The Company has begun a search, internally and
externally, for a new Chief Financial Officer with a leading
executive search firm.
Henry Keizer, Sealed Air Board
Chairman said, "Our focus has been on rebuilding the foundation by
re-aligning our businesses on a market basis, revitalizing our
commercial approach and right sizing our cost structure. As we
enter the next phase of our transformation, our success requires a
leader with a deep understanding of our businesses and a strong
sense of urgency. Dustin has proven that he is the best leader to
take the business forward with his relentless focus on execution,
customer-centric approach, ability to build a high-performing
culture, and strong financial and operational skills."
Mr. Keizer continued, "We thank Patrick for his contributions in
our recent transformation back into two market-focused business
segments and wish him the best in his future endeavors."
Mr. Keizer continued, "As we look to Sealed Air's future, the
Board is confident in Dustin's ability to work with the new segment
Presidents, each possessing extensive packaging and commercial
expertise, along with their global teams to maximize value for our
shareholders. Together, they will accelerate efforts to enhance
customer focus, drive profitable growth, streamline our operations,
deploy capital effectively and foster a relentless commitment to
shareholder returns."
Mr. Semach said, "We have made great progress in refocusing on
our end-markets with our reorganization into two distinct
businesses, Food and Protective. We still have significant
opportunities to enhance our growth prospects through better
partnering with customers, improving our cost positions and
focusing our deep innovation capabilities to develop solutions that
solve our customers' most pressing problems. I look forward to
continuing to partner with the Board of Directors, each segment
leader and all the employees of Sealed Air in meeting these
challenges and driving profitable growth in 2025 and beyond."
Full Year 2024 Outlook
Concurrently with the foregoing announcement, Sealed Air
Corporation reaffirms its financial guidance for full year 2024, as
provided in a press release issued on November 7, 2024. Mr. Semach and Ms. Johnson will
discuss the Company's financial results and operational progress
when Sealed Air reports its fourth quarter and full year results on
Tuesday, February 25, 2025.
About Sealed Air
Sealed Air Corporation (NYSE: SEE), is a leading global provider
of packaging solutions that integrate sustainable, high-performance
materials, automation, equipment and services. Sealed Air designs,
manufactures and delivers packaging solutions that preserve food,
protect goods and automate packaging processes. We deliver our
packaging solutions to an array of end markets including fresh
proteins, foods, fluids and liquids, medical and life science,
e-commerce retail, logistics and omnichannel fulfillment
operations, and industrials. Our globally recognized solution
brands include CRYOVAC® brand food packaging,
LIQUIBOX® brand liquids systems, SEALED
AIR® brand protective packaging,
AUTOBAG® brand automated packaging systems, and
BUBBLE WRAP® brand packaging. In 2023, Sealed Air
generated $5.5 billion in sales and
has approximately 17,000 employees who serve customers in 115
countries/territories.
www.sealedair.com
Website Information
We routinely post important information for investors on
our website, sealedair.com, in the Investors 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 Investors 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 Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by such words as
"anticipate," "believe," "plan," "assume," "could," "should,"
"estimate," "expect," "intend," "potential," "seek," "predict,"
"may," "will" or the negative of these terms and similar
expressions. All statements contained in this press release, other
than statements of historical facts, such as those regarding our
growth initiatives, business strategies, operating plans, business
outlook, restructuring activities and market conditions, are
forward-looking statements. These statements are neither promises
nor guarantees, but involve known and unknown risks and
uncertainties that may cause our actual results to differ
materially from any future results expressed or implied by the
forward-looking statements. These risks include important factors
discussed in the "Risk Factors" section in Part I of our most
recent Annual Report on Form 10-K, as updated by our other filings
with the Securities and Exchange Commission.
Any forward-looking statements made by us in this press release
are based solely on management's estimates as of the date of this
press release. While we may elect to update such forward-looking
statements, we disclaim any obligation to do so even if subsequent
events cause our views to change, except as may be required by
applicable law.
Company Contacts
Investors
Mark
Stone
Mark.Stone@sealedair.com
919.673.3218
Louise Lagache
Louise.lagache@sealedair.com
Media
Amanda
Hoggarth
Amanda.hoggarth@sealedair.com
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SOURCE Sealed Air
