NEENAH, Wis.–(BUSINESS WIRE)–
Bemis Company, Inc. (BMS) (“Bemis” or “the Company”) today appear that it has entered into an acceding with Starboard Amount LP (“Starboard”), which currently owns about 3.3% of the Company’s outstanding shares, pursuant to which its Board of Admiral has appointed Guillermo Novo, Marran H. Ogilvie, George W. Wurtz III, and Robert H. Yanker as new absolute admiral to the Company’s Board, able immediately. The Aggregation additionally appear that Ronald J. Floto and William L. Mansfield will retire from the Board at the end of their accepted acceding and will not angle for reelection at the 2018 Annual Meeting. Following the 2018 Annual Meeting, the Board will be comprised of 13 directors, 12 of whom will be independent.
In addition, Bemis created a Accounts and Action Board of the Board, which will be composed of two bounden directors, David S. Haffner and Philip G. Weaver, and two new directors, Marran H. Ogilvie and Robert H. Yanker. The board will be amenable for reviewing a advanced ambit of topics, including the Company’s banking matters, cardinal direction, and abeyant merger, acquisition, and denial opportunities, and accomplish recommendations to the Board apropos such topics.
Timothy M. Manganello, Chairman of the Bemis Board, said, “We are admiring to acceptable Guillermo, Marran, George, and Rob as new absolute associates to the Bemis Board. They anniversary accompany accordant acquaintance and perspectives in areas capital to our business, including finance, operational, and industry expertise, and we attending advanced to benefitting from their insights. The accession of these admiral underscores our focus on continuing to advance the abilities represented on the Board to best position the Aggregation for success as we apparatus and assassinate on Agility, our absolute cardinal plan to fix, strengthen, and abound our business. Importantly, Bemis’ solid fourth division 2017 after-effects authenticate that the Aggregation is architecture drive on its objectives and demography the appropriate accomplishments to enhance advantage and actualize amount for Bemis shareholders.”
Mr. Manganello continued. “On account of the absolute Board and administration team, I appetite to acknowledge Ron Floto and Bill Mansfield for their abounding contributions to Bemis during their tenure. We ambition them all the best in their approaching endeavors.”
Peter Feld, Managing Affiliate at Starboard, said, “We are admiring to accept formed constructively with Bemis to ability an acceding to strengthen the Board with new absolute admiral and to actualize a new Accounts and Action Board of the Board. The arrangement of these new admiral will accompany added insights and admired ability to Bemis as it focuses on advantage and growth. We attending advanced to continuing to assignment carefully with administration and the Board as we accompany our accepted ambition of acceptable actor value.”
Under the agreement, Starboard will vote its shares in favor of all of the Board’s nominees and abutment all Board recommended proposals at the Company’s 2018 Annual Affair of Shareholders, amid added things. This acceding will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.
About Guillermo NovoMr. Novo currently serves as President, Chief Executive Officer, and a affiliate of the Board of Versum Materials, a arch all-around cyberbanking abstracts supplier to the semiconductor industry. In this role, Mr. Novo has focused on ambience the cardinal administration of the aggregation and affair actor commitments. Mr. Novo was appointed CEO afterwards allowance advance Versum’s aftereffect from Air Articles in October 2016. Previously, he served as Executive Vice President, Abstracts Technologies of Air Articles back October 2014. He aing Air Articles in 2012 as Senior Vice President Electronics, Performance Materials, Action and Technology. Prior to aing Air Products, Mr. Novo served as Group Vice President, Blanket Chemicals, for Dow Chemical Company.
About Marran H. OgilvieMs. Ogilvie was a affiliate of Ramius, LLC, an another advance administration firm, area she served in assorted capacities from 1994 to 2009 afore the firm’s alliance with Cowen Group, including as Chief Operating Officer and General Counsel. Following the merger, Ms. Ogilvie served as Chief of Staff at Cowen Group, Inc. until 2010. She currently serves as an Advisor to the Creditors Board for the Lehman Brothers International (Europe) Administration. She additionally serves as a administrator of Evolution Petroleum, a developer and ambassador of oil and gas reserves, Ferro Corporation, a supplier of anatomic coatings and blush solutions, Four Corners Property Trust, a REIT for which she chairs the Audit Committee, and LSB Industries, Inc. a accomplishment company. Ms. Ogilvie ahead served as a administrator for Southwest Bancorp, a bounded bartering bank, Zais Banking Corp., a REIT, Seventy Seven Energy Inc., an oil acreage casework company, and the Korea Fund, an advance company.
About George W. Wurtz IIIMr. Wurtz currently serves as the President and Chief Executive Officer of George Wurtz & Associates LLC, a bazaar consulting close that provides hands-on abutment and accomplished admonition to accumulated audience for their marketing, operational, cardinal sourcing, or banking challenges. Mr. Wurtz co-founded Soundview Cardboard Company, a architect and benefactor of accomplished cardboard products, area he ahead served as Chairman of the Board of Admiral and Chief Executive Officer. Prior to Soundview, Mr. Wurtz was the Chief Executive Officer and President of WinCup, Inc., a arch architect and benefactor of a ample band of disposable foodservice articles and Executive Vice President of Georgia- Pacific Corporation, a again about traded arch maker of tissue, pulp, paper, packaging, architecture products, and accompanying chemicals, and James River Corporation, an American lurid and cardboard company. He currently serves as a administrator of Appvion, Inc., a ambassador of thermal, carbonless, security, and added specialty coated papers, Mohawk Fine Papers, Inc., a cardboard accomplishment company, and Urbanspace, a bartering absolute acreage and restaurant business out of New York City. He additionally serves as Chairman of the State University of New York at Oswego Engineering Advisory Board.
About Robert H. YankerMr. Yanker currently serves as Administrator Emeritus at McKinsey & Company, a common administration consulting firm. Mr. Yanker served at McKinsey for 27 years, from 1986 to 2013, area he formed with a array of audience in the industrial, consumer, and telecommunications sectors on a abounding ambit of issues from strategy, portfolio assessment, sales and operations transformation, restructuring, and adequacy building. He currently serves as a administrator of Aaron’s Inc., a arch omnichannel provider of lease-purchase solutions. He ahead served as a administrator of Wausau Cardboard Corp., a architect of away-from-home anhydrate and tissue products.
About Bemis Company, Inc.Bemis Company, Inc. (“Bemis” or the “Company”) is a above supplier of adjustable and adamant artificial packaging acclimated by arch food, customer products, healthcare, and added companies worldwide. Founded in 1858, Bemis appear 2017 net sales from continuing operations of $4.0 billion. Bemis has a able abstruse abject in polymer chemistry, blur extrusion, blanket and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs about 16,500 individuals worldwide. More advice about Bemis is accessible at our website, www.bemis.com.
About Starboard Amount LPStarboard Amount LP is a New York-based advance adviser with a focused and axiological access to advance primarily in about traded U.S. companies. Starboard invests in acutely undervalued companies and actively engages with administration teams and boards of admiral to analyze and assassinate on opportunities to alleviate amount for the account of all shareholders.
View antecedent adaptation on businesswire.com: http://www.businesswire.com/news/home/20180316005837/en/
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