US-based packaging firm Sealed Air said its CEO Jerome Peribere plans to retire at the end of this year.
As part of this planned succession, the Board simultaneously elected Edward (Ted) L. Doheny II Chief Operating Officer and CEO-Designate, and elected him as a Director of the Company effective as of September 18, 2017.
As COO of the Company, Mr. Doheny will have responsibility for the operating businesses and Supply Chain network and will report to Mr. Peribere.
In addition, Mr. Doheny will work on transitioning with Mr. Peribere until December 31, 2017, and will then assume the role of CEO and President, effective January 1, 2018.
William J. Marino, Chairman of the Board of Directors of Sealed Air, said: “Under Jerome’s ‘Change the Game and Get Fit’ initiatives, Sealed Air has both exceeded performance expectations and positioned itself well for the future.
He has led our transformation from a products-based company to a knowledge-based company, created a more unified organization through Sealed Air’s rebranding, dramatically improved employee engagement, and inspired a culture obsessed with customer value creation and a renewed commitment to sustainability.
He also implemented new financial disciplines – all of which have greatly improved our quality of earnings and shareholder value.”
Mr. Marino continued; “Moving forward, we are extremely pleased that Ted Doheny is joining the Company. He is an experienced and transformational leader with a proven ability to drive profitable innovation-based growth strategies.
The Board is confident that Ted is the right person to lead the next generation of growth and we look forward to his leadership.”
Mr. Doheny served as Chief Executive Officer of Joy Global until its sale to Komatsu in May 2017.
Before becoming Chief Executive Officer of Joy Global in December 2013, he was an Executive Vice President at Joy Global, as well as President and Chief Operating Officer of its Underground Equipment division.
Prior to joining Joy Global in May 2006, Mr. Doheny spent 21-years with Ingersoll-Rand, where he held a variety of senior executive positions with global responsibility, including President of Air Solutions and President of Industrial Technologies.