Greif Announces Completion of Planned Chief Executive Officer Transition And Announces New Executive Leadership Team

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B) has announced Ole Rosgaard as the new President and CEO, following a planned succession. Rosgaard takes over from Pete Watson, who will become Executive Chairman. This leadership change aims to enhance shareholder value. A new executive team has also been appointed, effective February 1, 2022, comprising various experienced leaders to drive growth and operational improvement. The company's vision remains focused on becoming the best-performing customer service company globally, with a solid presence in 40 countries.

Positive

• Ole Rosgaard's appointment as President and CEO may bring new strategic direction.
• The new executive leadership team includes experienced industry leaders, which could enhance operational performance.

Negative

• Transition in leadership may lead to temporary disruptions in strategic continuity.

DELAWARE, Ohio, Feb. 1, 2022 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that Ole Rosgaard assumed the role of President and Chief Executive Officer, consistent with the company's previously announced succession plan. Mr. Rosgaard succeeds Pete Watson who will become Executive Chairman of Greif's Board of Directors. Mr. Rosgaard has also been nominated to serve on Greif's Board of Directors, which will be voted upon at the Annual Stockholders' Meeting on March 1, 2022. 

In addition, Greif announced a new executive leadership team effective February 1, 2022 that will lead ongoing growth and continuous improvement opportunities to drive additional shareholder value. Greif's new executive leadership team is comprised of:

• Executive Vice President, Chief Financial Officer, Larry Hilsheimer
• Executive Vice President, General Counsel and Secretary, Gary Martz
• Executive Vice President, Chief Human Resources Officer, Bala V. Sathyanarayanan
• Senior Vice President, Chief Supply Chain Officer, Tina Schoner
• Senior Vice President, Global Operations Group, Kimberly Kellermann
• Senior Vice President, Group President, Paper Packaging and Soterra LLC, Tim Bergwall
• Senior Vice President, Group President, Global Industrial Packaging, Patrick Mullaney
• Vice President, Chief Technology Officer, Doug Lingrel
• Vice President, Chief Marketing and Sustainability Officer, Matt Eichmann (effective March 1, 2022)

"I am pleased to announce our new executive leadership team," said Ole Rosgaard, Greif's President and Chief Executive Officer. "These extraordinary servant leaders possess extensive industry knowledge and a demonstrated commitment to disciplined operational execution and customer service. Their rich and diverse set of skills, experiences and backgrounds, along with proven records of performance, will drive even greater success and value creation at Greif in the future. I am humbled to have them join me in leading our company."

About Greif, Inc.

Greif is a global leader in industrial packaging products and services and is pursuing its vision: to be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides filling, packaging and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company is strategically positioned in 40 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com.

Contact:
Matt Eichmann
Office: 740–549–6067
Email: matt.eichmann@greif.com

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SOURCE Greif, Inc.

FAQ

Who is the new CEO of Greif as of February 1, 2022?

Ole Rosgaard is the newly appointed President and CEO of Greif, effective February 1, 2022.

What changes were made to Greif's executive leadership team in February 2022?

A new executive leadership team was announced, effective February 1, 2022, including key positions such as CFO and General Counsel.

When will Ole Rosgaard be voted onto Greif's Board of Directors?

Ole Rosgaard's nomination to the Board of Directors will be voted upon at the Annual Stockholders' Meeting on March 1, 2022.

What is the strategic goal of Greif's new leadership team?

The new leadership team aims to drive growth and continuous improvement to enhance shareholder value.