Benzinga | Jun 22, 2021 11:54AM EDT

Greif Announces New CEO, Transition Plan

* Industrial packaging products manufacturer Greif Inc (NYSE:GEF) has announced that Pete Watson will retire as President and Chief Executive Officer effective February 1, 2022.

* The Board of Directors has elected Ole Rosgaard to succeed Watson as President and Chief Executive Officer effective February 1, 2022.

* Rosgaard joined Greif in 2015 and currently serves as Senior Vice President, Group President of Global Industrial Packaging.

* Rosgaard has also served in a senior leadership role with BMI Group and a strategic business unit leader at VELFAC, one of the world's largest window manufacturing companies.

* The Company also announced that Michael Gasser, who has served as Chairman of the Board of Directors since 1994, will not stand for re-election to the Board at the Company's 2022 annual meeting of stockholders.

* Price action: GEF shares are trading up by 0.05% at $61.75 on the last check Tuesday.