Labelling and packaging materials company Avery Dennison has elected a new president and chief executive officer.
Mitchell R. Butier will take over the role from current chairman and CEO Dean Scarborough in May, and Scarborough will serve as the executive chairman of the company’s board of directors.
“Mitch has worked in various businesses and regions across Avery Dennison and in roles of increasing responsibility, including chief financial officer and president and chief operating officer,” Scarborough said.
“He has been a close thought partner of mine and has been at the centre of our most successful business strategies.
“Most recently, he has been the driver behind increasing the higher-value market segments of our portfolio.”
Butier, 44, joined Avery Dennison from PricewaterhouseCoopers, LLP in 2000.
The company has also appointed Hassan Rmaile as the global vice president of R&D for its materials group, who replaces Sjaak Elmendorp.
Rmaile will focus on identifying new, disruptive applications while continuing to grow the performance and cost-attractiveness of the core business.
In other news, Avery Dennison this week announced fourth quarter and year-end results which showed “strong organic sales growth and double-digit growth in adjusted earnings per share”, according to the company.
This was in spite of challenging economic conditions in many parts of the world and significant headwinds from currency translation.
“Pressure-sensitive materials delivered its fourth consecutive year of strong volume growth, while significantly improving its profitability and return on capital,” Scarborough said.
“In 2016, we expect to deliver solid organic sales growth and further expand our margins and return on capital, notwithstanding continued headwinds from currency translation and an uncertain economic climate, with continued return of cash to shareholders.”
Pressure-sensitive Materials (PSM) sales increased by about seven per cent. Within the segment, sales in both label and packaging materials and combined graphics and performance tapes increased mid-single digits.
Retail Branding and Information Solutions (RBIS) sales increased by close to eight per cent.
