Sealed Air Corporation (NYSE:SEE) announced that its Board of Directors has elected Jerome A. Peribere to the position of President and Chief Executive Officer as of March 1, 2013. Mr. Peribere joined Sealed Air in September 2012 as President and Chief Operating Officer as part of a succession planning process that was announced in August, 2012. The position of Chief Operating Officer will be discontinued. Prior to joining Sealed Air, Mr. Peribere spent 35 years at The Dow Chemical Company in a variety of leadership positions throughout the world and was most recently President and Chief Executive Officer of Dow Advanced Materials where he led the integration of the Rohm and Haas acquisition.
William V. Hickey will continue as Chairman until the Company’s Annual Meeting of Stockholders in May and provide continued transition assistance to Mr. Peribere during that period. At the Board of Directors meeting following the Annual Meeting the Board will decide its governance structure going forward.
William J. Marino, Lead Director of Sealed Air, stated, “We are extremely pleased with the transition process we began in August and the positive impact Jerome has made in the last six months. We are also pleased with the support and assistance Bill Hickey has provided to Jerome and look to Bill’s continued assistance as Chairman over the next few months as we complete the leadership transition process.”
BusinessSealed Air is a global leader in food safety and security, facility hygiene and product protection. With widely recognized and inventive brands such as Bubble Wrap ® brand cushioning, Cryovac ® brand food packaging solutions and Diversey TM brand cleaning and hygiene solutions, Sealed Air offers efficient and sustainable solutions that create business value for customers, enhance the quality of life for consumers and provide a cleaner and healthier environment for future generations. Sealed Air generated revenue of approximately $7.6 billion in 2012, and has approximately 25,000 employees who serve customers in 175 countries. To learn more, visit www.sealedair.com. Forward-Looking Statements Company statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. These statements include comments as to future events that may affect the Company, which are based upon management's current expectations and are subject to uncertainties, many of which are outside the Company's control. Forward-looking statements can be identified by such words as "anticipates," "expects," "believes," "plan," "could," "estimate," "will" and similar expressions. For more extensive information, see "Risk Factors" and "Cautionary Notice Regarding Forward-Looking Statements," which appear in our most recent Annual Report on Form 10-K, as may be revised and updated from time to time by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. These reports are available on the Securities and Exchange Commission's website at www.sec.gov or our Investor Relations home page at http://ir.sealedair.com.