- After about five years in the position
- Accolades, praise and thanks for Sanders
- Sanders said 53 words
(exechange) — Hartsville, South Carolina, November 28, 2017 — Jack Sanders, chief executive of Sonoco, hands over the reins. As announced by Sonoco Products Company in a news release and in a regulatory filing published on Tuesday, November 28, 2017, M.Jack Sanders leaves the post as Chief Executive Officer at the packaging company after about five years in the position, effective April 02, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 8.8 years, according to data compiled by exechange.
Sanders’ duties are taken over by Rob Tiede, most recently Chief Operating Officer at Sonoco Products Company.
No reason given
In the announcement, Sonoco did not explicitly explain the reason for Sanders’ move.
Precise information about the future plans of Sanders was not immediately available.
Sonoco said: “President and Chief Executive Officer M. Jack Sanders will retire, effective April 2, 2018, following a 30-year career with the Company.”
Share price rise since January 2016
The change follows a rise in the share price of Sonoco Products Company since January 2016.
Chaired by Harris E. DeLoach, Jr.
Sonoco Products Company is chaired by Harris E. DeLoach, Jr.
DeLoach has been the Company’s Executive Chairman since March, 2013, prior to which he had been the Company’s Chairman since 2005.
In the position of CEO since 2013
Jack Sanders has been the Chief Executive Officer of Sonoco Products Company since April 01, 2013.
A graduate of Louisiana State University with a Bachelor of Science degree in finance, Sanders joined Sonoco in 1988 as national sales and marketing manager for the Company’s Reels business.
In 1992, he was asked to build and lead the development of Sonoco’s new Protective Packaging business as its general manager.
He was promoted in 1998 to division vice president and general manager of Protective Packaging. Sanders was elected a corporate officer and named vice president of Industrial Products, North America, in 2001.
He was subsequently named vice president of Global Industrial Products in January 2006 and assumed responsibility for all industrial converting businesses as senior vice president in July 2007.
In 2008, Sanders was named executive vice president of Industrial, with global operating responsibility for the Company’s integrated industrial businesses.
Sanders became executive vice president of Sonoco’s Global Consumer businesses in 2011 and was chief operating officer in 2012.
In addition to serving on the Sonoco Board of Directors, Sanders is a member of the boards of the American Forest & Paper Association, Manufacturers Alliance for Productivity and Innovation and South Carolina Governor’s School for Science and Mathematics and is the Chairman of the South Carolina Chamber of Commerce.
He and his wife, Sheri, have three grown children and live in Garden City, S.C.
Read the full story in the exechange report 49.2017 ($).