Bruce Edwards Elected Chairman of Greif, Inc. Board of Directors; Greif Announces Election of New Board Member and Other Changes

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B) announces significant leadership changes as Pete Watson retires from the Board and Bruce Edwards is elected as the new Chairman of the Board. Edwards, who has been with the Board since 2006 and previously served as Chair of the Audit Committee, brings extensive experience from his role as former Global CEO of DHL Supply Chain. Watson's tenure saw Greif solidify its position as a customer service leader, while John Finn also retires after 15 years of service. New Board member Frank Miller, formerly of Kaiser Permanente, joins the team. The company continues its pursuit to be the best performing customer service company worldwide.

Positive

• Bruce Edwards brings extensive global operating experience as the new Chairman.
• Leadership change could enhance strategic decisions and company direction.

Negative

• Pete Watson's retirement may create continuity concerns.
• Potential experience gap with the departure of long-serving directors like John Finn.

News Market Reaction – GEF

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+0.91% Session move

In the trading session that priced this news, GEF gained 0.91%, reflecting a mild positive market reaction.

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Pete Watson retires from Board; Bruce Edwards elected as Chairman of the Board

DELAWARE, Ohio, Feb. 28, 2023 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today the election of Bruce Edwards, former Global Chief Executive Officer DHL Supply Chain, as Chairman of the Board of Directors of Greif. Bruce has served on the Board of Directors since 2006, most recently as Chair of the Audit Committee. His extensive global operating experience, deep knowledge of global supply chains, and overall counsel have been an invaluable part of the continued success of Greif. We thank Bruce for his continued service and look forward to his leadership as Chairman.

Pete Watson has retired as a director and Chairman of the Board of Directors at Greif in accordance with his planned transition from Chief Executive Officer. Greif would like to thank Pete for his unparalleled vision and servant leadership. Under Pete's direction, Greif firmly solidified its position as a customer service leader in the packaging industry, enabling the broadening of our vision under Ole Rosgaard to be the best performing customer service company in the world. We thank Pete for his tireless efforts both as Chief Executive Officer and Chairman of the Board.

John Finn has also retired from the Board. John has served on the Board for 15 years, and Greif thanks John for his excellent support, wisdom and counsel.

Additionally, Greif announced today that Frank Miller, Partner at Baker & Hostetler LLP, was elected to the Board.  Prior to rejoining that firm, Frank served for 10 years as senior counsel for Kaiser Permanente in Oakland, California.

Greif also announced the resignation of Roel Vestjens from the Board.

About Greif, Inc.
Greif is a global leader in industrial packaging products and services and is pursuing its vision: be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, jerrycans and other small plastics, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides filling, packaging, and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company is strategically positioned in over 35 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com. 

Investor Contact: 

Matt Leahy 
740-549-6158 
matthew.leahy@greif.com

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SOURCE Greif, Inc.

FAQ

Who has been elected as the new Chairman of Greif, Inc.?

Bruce Edwards has been elected as the new Chairman of the Board of Greif, Inc.

What is the background of Bruce Edwards, the new Chairman of Greif?

Bruce Edwards is the former Global Chief Executive Officer of DHL Supply Chain and has served on Greif's Board since 2006.

What does Pete Watson's retirement mean for Greif, Inc.?

Pete Watson's retirement may lead to continuity concerns within the leadership structure of Greif, Inc.

How long did John Finn serve on the Board of Greif, Inc.?

John Finn served on the Board of Greif, Inc. for 15 years before retiring.

Who has been newly elected to the Board of Greif, Inc.?

Frank Miller, previously senior counsel at Kaiser Permanente, has been newly elected to the Board.