Smurfit Kappa Announces Retirement of CEO McGann

 

Smurfit Kappa recently announced that Gary McGann, the group’s CEO, will retire effective August 31. The board has appointed Tony Smurfit, president and COO, as the group’s CEO designate to succeed McGann.

According to the company, Gary has led the transformation of Smurfit Kappa since his appointment as group CEO in 2002. Under his stewardship, the group has more than doubled in size, consolidated its position as European market leader, increased the group’s presence in Latin America; and re-entered the U.S. market. He also led the group’s return to public markets in 2007 in what was the largest-ever capital raising in the sector globally. Gary has been recognized within the industry and by capital markets as the outstanding CEO of our sector. The board is grateful for his substantial contribution in leading the group’s growth and development over the last 13 years. 

"Tony Smurfit is a respected industry leader and an effective team builder with a strong track record of delivery. As COO, he has been central to the performance and strategic development of the group. Both Gary and Tony will continue to work closely together, over the next four months, to ensure a seamless transition to new leadership," commented Liam O’Mahony, Smurfit Kappa chairman.

 

 

Tony Smurfit, incoming group CEO designate, said that "I am honored to accept the trust the board has placed in me and am committed to building on the team's outstanding contribution under Gary's leadership. We have a clear vision for Smurfit Kappa and a highly regarded, performance-oriented, management team to sustain that vision. Our balance sheet strength and cash flow generation capability will enable us to accelerate our evolution towards an ever more successful, market-led, customer centric packaging company."