18th Jan 2008 07:00
Rexam PLC18 January 2008 Rexam Chairman to retire at AGM in May 2008 Rexam, the global consumer packaging company, and the world's leading beveragecan maker, announces that Rolf Borjesson, the Chairman of Rexam, has informedthe Board of his intention to retire from the Company at its Annual GeneralMeeting which is to be held on 1 May 2008. He will be 65 at this time and willhave served Rexam for twelve years in all, eight as Chief Executive and four asChairman. Rolf will be succeeded by Peter Ellwood, who will join the Board as a nonexecutive director and Chairman Designate on 1 February 2008. Until recentlyPeter, who is 64, was Chairman of ICI and prior to that Group Chief Executive ofLloyds TSB Group PLC. He has extensive experience of strategic business issues. Rolf Borjesson commented: "I have been with Rexam for twelve exciting years,during which time Rexam has been transformed into one of the world's leadingconsumer packaging companies. Although these last three years have beenchallenging 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 thefuture through acquisitions in higher growth, higher margin businesses andfurther investment in organic growth opportunities. I believe that the Group isnow in excellent shape. It has two strong global businesses, Beverage Cans andPlastics. It is in good hands with the new CEO, Leslie Van de Walle and hisleadership 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 entersthis exciting chapter of its history. It has been a privilege to have beenassociated with this company these past 12 years and I wish everyone everysuccess as Rexam embarks on its next period of development." Commenting on the change, Leslie Van de Walle, the CEO, said: "Rolf is thearchitect of the modern Rexam. His vision and determination helped create Rexamto become what it is today - a leading global player in consumer packaging. Hisexperience and his stature in the packaging world have been a great help to mepersonally in my first year. On behalf of the Board, and indeed, the whole ofRexam, I would like to thank him for all the work he has done and wish him allthe best in the future. The Board and I are looking very much forward to workingwith Peter Ellwood. He is a man of proven ability and an experienced chairmanwith a strong track record. His international business and leadershipexperience along with his energy and determination will complement our Boardskills and we are delighted that he is joining us at this exciting time." 18 January 2007Enquiries Leslie Van de Walle, CEO +44 20 7227 4100Jonathan Thornton, Group Communications Director Financial DynamicsRichard Mountain +44 20 7269 7121 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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