Sealed Air CEO and president Jerome A. Peribere will retire at the end of December 2017.
As part of this planned succession, the company’s board of directors simultaneously elected Edward (Ted) L. Doheny II as Sealed Air’s chief operating officer (COO) and CEO-Designate.
He was also elected director of the company, effective Monday 18 September 2017.
As COO, Doheny will have responsibility for the operating businesses and supply chain network and will report to Peribere.
In addition, Doheny will work on transitioning with Peribere until 31 December 2017, and will then assume the role of CEO and president, effective Monday 1 January 2018.
William J. Marino, Sealed Air’s chairman of the board of directors, said Sealed Air has both exceeded performance expectations and positioned itself well for the future under Peribere’s ‘Change the Game and Get Fit’ initiatives.
“(Peribere) has led our transformation from a products-based company to a knowledge-based company, created a more unified organisation through Sealed Air’s rebranding, dramatically improved employee engagement, and inspired a culture obsessed with customer value creation and a renewed commitment to sustainability,” said Marino.
“He also implemented new financial disciplines – all of which have greatly improved our quality of earnings and shareholder value.
“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.”
Doheny served as CEO of Joy Global until its sale to Komatsu in May 2017. Before becoming CEO of Joy Global in December 2013, he was an executive vice president at Joy Global, as well as president and COO of its Underground Equipment division.