1 May 2015
Smurfit Kappa today announces that Mr Gary McGann, Group Chief Executive Officer will retire on 31 August, 2015. The Board has appointed Mr Tony Smurfit, President & Chief Operating Officer, as Group CEO Designate to succeed Mr McGann on 1 September, 2015.
Liam O’Mahony, SKG Chairman, commented:
“Gary has led the transformation of Smurfit Kappa since his appointment as Group CEO in 2002. Under his stewardship, the Group has more than doubled in size, consolidated its position as European market leader; increased the Group’s presence in Latin America; and, re-entered the US market. He also led the Group’s return to public markets in 2007 in what was the largest ever capital raising in the sector globally. Gary has been recognised within the industry and by capital markets as the outstanding CEO of our sector. The Board is grateful for his substantial contribution in leading the Group’s growth and development over the last 13 years.
We are extremely pleased to have an experienced executive of Tony Smurfit’s calibre to succeed Gary as CEO. Tony is a respected industry leader and an effective team builder with a strong track record of delivery. As Chief Operating Officer, he has been central to the performance and strategic development of the Group. Both Gary and Tony will continue to work closely together, over the next four months, to ensure a seamless transition to new leadership.”
Tony Smurfit, Group CEO Designate, added:
"I am honoured to accept the trust the Board has placed in me and am committed to building on the team's outstanding contribution under Gary's leadership. We have a clear vision for Smurfit Kappa and a highly regarded, performance-oriented, management team to sustain that vision. Our balance sheet strength and cashflow generation capability will enable us to accelerate our evolution towards an ever more successful, market-led, customer centric packaging company.”
Gary McGann, Group CEO, concluded:
“It has been a privilege to lead Smurfit Kappa Group as CEO. I have been honoured to have the unwavering support of our team of top class professionals. I am confident that this team will sustain our vision as the most respected and differentiated supplier in our chosen markets – consistently delivering industry leading returns. I am proud to have been a part of the Group during this great journey and delighted to hand over to Tony Smurfit to whom I extend my congratulations. I am confident that Tony and the team will drive the performance of the Group to even greater levels of success in the years ahead.”