Sonoco Announces Retirement of Diversified Business Leader

Rhea-AI Summary

Sonoco Products Company (NYSE: SON) has announced the retirement of Jeff Tomaszewski, President of Diversified Businesses, effective June 30, 2024. Tomaszewski, who joined Sonoco in 2002 as a financial manager, has held various leadership roles and significantly contributed to the company's growth and efficiency. Under his leadership, the Diversified Businesses group saw enhanced efficiency and profitability. CEO Howard Coker praised Tomaszewski's impact and leadership. Tomaszewski expressed gratitude for his opportunities at Sonoco and looks forward to his next chapter.

Positive

• Jeff Tomaszewski played a important role in improving the efficiency and profitability of Sonoco's Diversified Businesses.
• Tomaszewski's leadership contributed to strong results in the strategic evaluation of Sonoco's diversified businesses.
• Sonoco's announcement implies a well-thought-out transition plan for Tomaszewski's retirement, ensuring continuity.

Negative

• The retirement of a key executive like Jeff Tomaszewski might cause temporary uncertainty within the Diversified Businesses group.
• Potential gaps in leadership could arise as the company transitions to new leadership in the Diversified Businesses segment.

HARTSVILLE, S.C., May 14, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), one of the largest sustainable global packaging companies, today announced the upcoming retirement of tenured executive, Jeff Tomaszewski, President, Diversified Businesses, effective June 30, 2024.

“On behalf of the entire Sonoco team, I want to thank Jeff for the great impact he has had on our team and business during his 22-year career with the company,” said Howard Coker, President and CEO. “When we created our All Other group of businesses, I asked Jeff to take over these diversified businesses to evaluate their strategic long-term fit for Sonoco, while working in parallel to improve efficiency and profitability in those businesses. Jeff and his team have delivered strong results and with the plans underway to conclude the strategic review process, Jeff has made the decision to retire. We look forward to working closely with Jeff over the coming months and wish him the very best as he prepares to embark on this next chapter.”

Jeff Tomaszewski joined Sonoco in 2002 as a financial manager. During his tenure with the company, he has held a variety of leadership positions as a general manager for a number of our global consumer businesses.

“As I prepare to retire, I want to start by thanking the Sonoco team, particularly those team members from the Diversified Businesses with whom I have served most recently. I’m grateful for the opportunities I’ve had to help Sonoco build and grow a more durable strategy for the future,” said Tomaszewski. “By maintaining a relentless focus on our customers, we continue to show what industry leadership looks like and the lessons I have learned will carry me forward as I continue service to others in my retirement.”

About Sonoco
With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees and communities. Sonoco was named one of America’s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at www.sonoco.com.

Contact Information:
Lisa Weeks
Vice President of Investor Relations & Communications
lisa.weeks@sonoco.com        
843-383-7524

FAQ

When is Jeff Tomaszewski retiring from Sonoco?

Jeff Tomaszewski is retiring on June 30, 2024.

What role did Jeff Tomaszewski hold at Sonoco?

Jeff Tomaszewski was the President of Diversified Businesses at Sonoco.

How long did Jeff Tomaszewski work at Sonoco?

Jeff Tomaszewski worked at Sonoco for 22 years, starting in 2002.

What impact did Jeff Tomaszewski have on Sonoco?

Jeff Tomaszewski significantly improved the efficiency and profitability of Sonoco's Diversified Businesses.

Who is the CEO of Sonoco who commented on Jeff Tomaszewski's retirement?

Howard Coker, the President and CEO of Sonoco, commented on Jeff Tomaszewski's retirement.