Silgan Holdings Announces Retirement of R. Philip Silver as a Director and Elects Adam J. Greenlee as a Director

Rhea-AI Summary

Silgan Holdings Inc. (NYSE:SLGN) has announced the retirement of co-founder R. Philip Silver as Director, effective after today's Board meeting. Silver, who has been with the company since its inception 35 years ago, was recognized for his significant contribution to shareholder value creation. In a related move, Adam J. Greenlee, the current President and CEO, has been elected to the Board of Directors, serving until the 2025 annual stockholders' meeting. Silgan reported annual net sales of approximately $5.7 billion in 2021 and operates 112 manufacturing facilities globally.

Positive

• Adam J. Greenlee appointed to Board of Directors, bringing continuity in leadership.
• Company has a strong financial base with 2021 net sales of approximately $5.7 billion.
• Silgan operates 112 manufacturing facilities across multiple regions.

Negative

• None.

STAMFORD, Conn.--(BUSINESS WIRE)-- Silgan Holdings Inc. (NYSE:SLGN), a leading supplier of sustainable rigid packaging for consumer goods products, announced that R. Philip Silver informed the Company today of his decision to retire as a Director of the Company, effective following the conclusion of the Company’s Board of Directors meeting held today. Mr. Silver co-founded the Company together with D. Greg Horrigan 35 years ago and has served as a Director of the Company since its founding. Mr. Silver had also served as the Company’s Chairman of the Board in an executive capacity and Co-Chairman of the Board in both an executive and non-executive capacity from its founding until March 2019.

“From the initial founding of Silgan 35 years ago, we have followed one Mission, to compete and win in our markets by being the best at what we do. Phil Silver not only kept us focused on those ideals, but he also personifies them in every way,” said Tony Allott, Chairman of the Board. “His unwavering focus on shareholder value creation, his insistence on rigor of thought and logic and his ability to find a path to success through a variety of challenges are hallmarks of his impact on Silgan. On behalf of the Board of Directors and the entire Silgan team, we wish to sincerely thank Phil for his guidance, wisdom, integrity and friendship. While Silgan is losing his presence and great fiduciary voice with his retirement, we know that his example and teachings will remain with each of us. We wish Phil the very best in his retirement,” concluded Mr. Allott.

The Company also announced that its Board of Directors elected Adam J. Greenlee, the Company’s President and Chief Executive Officer, as a member of the Board of Directors of the Company. Mr. Greenlee will serve as a Class I Director of the Company, with the term of his position running until the annual meeting of stockholders of the Company in 2025. Mr. Greenlee has been Chief Executive Officer of the Company since September 2021 and President of the Company since April 2019. Previously, Mr. Greenlee was Executive Vice President and Chief Operating Officer of the Company.

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Silgan is a leading supplier of sustainable rigid packaging solutions for consumer goods products with annual net sales of approximately $5.7 billion in 2021. Silgan operates 112 manufacturing facilities in North and South America, Europe and Asia. The Company is a leading worldwide supplier of dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance and beauty products. The Company is also a leading supplier of metal containers in North America and Europe for food and general line products. In addition, the Company is a leading supplier of custom containers for shelf-stable food and personal care products in North America.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221102006050/en/

Robert B. Lewis

(203) 406-3160

Source: Silgan Holdings Inc.

FAQ

What recent change occurred in Silgan Holdings' Board of Directors?

R. Philip Silver announced his retirement as a Director of Silgan Holdings, effective after the most recent Board meeting.

Who has been appointed to the Board of Directors of Silgan Holdings?

Adam J. Greenlee, the current President and CEO, has been elected as a member of the Board of Directors.

When was the recent Board meeting of Silgan Holdings held?

The recent Board meeting was held today, where R. Philip Silver's retirement was announced.

What are the annual sales figures for Silgan Holdings?

Silgan Holdings reported annual net sales of approximately $5.7 billion in 2021.

How many manufacturing facilities does Silgan Holdings operate?

Silgan Holdings operates 112 manufacturing facilities worldwide.