- Push-out Score determined
- After about six years in the position
- Praise and thanks for Watson
- Ole Rosgaard taking over
- Watson will remain as Executive Chairman at Greif
- Watson spoke at length and said 152 words
(exechange) — Delaware, Ohio, June 22, 2021 — Pete Watson, chief executive of Greif, leaves his post. His departure is made public at an early stage. As announced by Greif Inc. in a news release on Tuesday, June 22, 2021, Peter G. (Pete) Watson leaves his post as chief executive officer at the provider of industrial packaging products after about six years in the role, effective February 1, 2022.
Pete Watson’s duties as CEO will be taken over by Ole G. Rosgaard, currently Senior Vice President, Group President of Global Industrial Packaging at Greif Inc.
“Thoughtful and comprehensive, multi-year succession planning process”
Pete Watson’s departure from the CEO post is explained as follows. Greif said: “This announcement concludes a thoughtful and comprehensive, multi-year succession planning process.”
Watson will remain as Executive Chairman at Greif
“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. At that time, Mr. Watson will become Executive Chairman of the Board of Directors and Bruce Edwards will become the lead director for the Board of Directors,” Greif said.
Greif said: “Pete Watson will retire as Greif’s President and Chief Executive Officer effective February 1, 2022.”
Share price increase since June 2016
The announcement follows an increase in Greif Inc.’s share price of 69% since June 2016.
Chaired by Michael Gasser
Michael Gasser serves as Greif Inc.’s Chairman.
Gasser has served as Chairman of the Board of Directors since 1994, including the period from November 2011 until November 2012 in which he served as Executive Chairman. Gasser served as Chief Executive Officer of the Company from 1994 until October 2011 and as Chief Financial Officer prior to that time.
In the position of CEO since 2015
Pete Watson became CEO of the Company in 2015.
Watson has served as President and Chief Executive Officer of the Company since November 2015.
From January 2014 until October 2015, he served as Chief Operating Officer.
From September 2012 until December 2013, Watson served as Vice President and Group President, Paper Packaging & Services, Global Sourcing and Supply Chain and Greif Business System.
From May 2013 until May 2015, Watson also served as President of Soterra LLC, which operates the Company’s Land Management business segment.
From January 2010 to September 2012, he served as Vice President and Division President, Paper Packaging & Services.
Prior to January 2010, Watson served in a variety of roles in the Company’s Paper Packaging & Services segment including President of CorrChoice (a division of the Company).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Pete Watson’s move on a scale of 0 to 10.
exechange reached out to Greif and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2021 ($).