Rexam, the global consumer packaging company, and the world's leading beverage can maker, announces that Rolf Börjesson, the Chairman of Rexam, has informed the Board of his intention to retire from the Company at its Annual General Meeting which is to be held on 1 May 2008. He will be 65 at this time and will have served Rexam for twelve years in all, eight as Chief Executive and four as Chairman.
Rolf will be succeeded by Peter Ellwood, who will join the Board as a non executive director and Chairman Designate on 1 February 2008. Until recently Peter, who is 64, was Chairman of ICI and prior to that Group Chief Executive of Lloyds TSB Group PLC. He has extensive experience of strategic business issues.
Rolf Börjesson commented: I have been with Rexam for twelve exciting years, during which time Rexam has been transformed into one of the world's leading consumer packaging companies. Although these last three years have been challenging in the face of dramatic increases in input costs and a weak dollar, we have worked hard to compensate for these and to prepare the company for the future through acquisitions in higher growth, higher margin businesses and further investment in organic growth opportunities. I believe that the Group is now in excellent shape. It has two strong global businesses, Beverage Cans and Plastics. It is in good hands with the new CEO, Leslie Van de Walle and his leadership team, and is well positioned for sustainable and profitable growth. Now, the time is right to step down and hand over to a new team as Rexam enters this exciting chapter of its history. It has been a privilege to have been associated with this company these past 12 years and I wish everyone every success as Rexam embarks on its next period of development.
Commenting on the change, Leslie Van de Walle, the CEO, said: Rolf is the architect of the modern Rexam. His vision and determination helped create Rexam to become what it is today - a leading global player in consumer packaging. His experience and his stature in the packaging world have been a great help to me personally in my first year. On behalf of the Board, and indeed, the whole of Rexam, I would like to thank him for all the work he has done and wish him all the best in the future. The Board and I are looking very much forward to working with Peter Ellwood. He is a man of proven ability and an experienced chairman with a strong track record. His international business and leadership experience along with his energy and determination will complement our Board skills and we are delighted that he is joining us at this exciting time.
Leslie Van de Walle, CEO | Financial Dynamics |
