Management changes in SCA Packaging Europe
The European packaging business is facing major industry challenges. SCA Packaging is an important part of SCA, representing some 25% of the Group’s sales, while the profit has decreased sharply and now represents only 2% of the Group’s profit.
An efficiency-improvement programme, resulting in SEK 1,070m in lower annual costs, was launched for the European packaging operations during the spring. The programme is running according to plan.
However, further adaptations to the market conditions remain and calls for a leadership capable of leading major changes and with thorough industrial experience. This is why SCA has decided to initiate a search for a new President of SCA Packaging Europe. Phil Almond, current President, will leave his position. Meanwhile, David Stead, CFO, will take on the duty as acting President.
For further information please contact:
Pär Altan, Vice President Media Relations, +46 8 788 52 37
Bodil Eriksson, Senior Vice President Corporate Communications, +46 8 788 52 34