12.01.17
Sonoco announced president and CEO M. Jack Sanders will retire, effective April 2, 2018, following a 30-year career with the company. Sonoco’s Board of Directors has named Robert C. Tiede, who currently serves as the company’s EVP and COO, as CEO-elect. Tiede will join the board of directors upon Sanders’ retirement.
Since joining Sonoco in 2004, Tiede, 59, has led all of Sonoco’s global industrial, consumer and protective packaging operations, while spending the bulk of his tenure building the company’s consumer-related businesses. These combined businesses have grown sales by approximately 80% and improved operating profits by 125% since 2004.
“Rob has played an integral role in driving our consumer growth strategy and is ready to be Sonoco’s next CEO,” said Sanders. “His ability to turn around underperforming businesses, drive innovation to spur organic growth and help build our capabilities through targeted acquisitions has been an important element in executing our Grow and Optimize strategy.”
Tiede joined Sonoco as president of Sonoco CorrFlex following the 2004 acquisition of CorrFlex Graphics’ point of purchase merchandising display and packaging business. In 2007, he became division VP and GM of the company’s Flexible Packaging division and later added responsibility for all of the company’s Consumer Packaging businesses. He became SVP in 2013 and in 2015 added responsibility for the company’s Protective Solutions and Reels businesses.
Prior to joining Sonoco, Tiede worked in private equity as president of Bostic Packaging/CorrFlex from 2000 to 2004 and president of Sterling International from 1998 to 2000.He also served as EVP of operations for Graphic Packaging International, Inc., in its flexible packaging division from 1994 to 1998.
Since Sanders took over as CEO in 2013, Sonoco has seen GAAP earnings grow by 46%, while EBITDA margin has improved by 140 basis points and return on net assets employed (RONAE) has expanded from 7.6% to 11.1%.
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 GM.He was promoted in 1998 to division VP and GM of Protective Packaging. Sanders was elected a corporate officer and named VP of Industrial Products, North America, in 2001.
He was subsequently named VP of Global Industrial Products in January 2006 and assumed responsibility for all industrial converting businesses as SVP in July 2007.In 2008, Sanders was named EVP of Industrial, with global operating responsibility for the company’s integrated industrial businesses. Sanders became EVP of Sonoco’s Global Consumer businesses in 2011 and was COO in 2012.
Jack Sanders (Courtesy: Linkedin)
Since joining Sonoco in 2004, Tiede, 59, has led all of Sonoco’s global industrial, consumer and protective packaging operations, while spending the bulk of his tenure building the company’s consumer-related businesses. These combined businesses have grown sales by approximately 80% and improved operating profits by 125% since 2004.
“Rob has played an integral role in driving our consumer growth strategy and is ready to be Sonoco’s next CEO,” said Sanders. “His ability to turn around underperforming businesses, drive innovation to spur organic growth and help build our capabilities through targeted acquisitions has been an important element in executing our Grow and Optimize strategy.”
Tiede joined Sonoco as president of Sonoco CorrFlex following the 2004 acquisition of CorrFlex Graphics’ point of purchase merchandising display and packaging business. In 2007, he became division VP and GM of the company’s Flexible Packaging division and later added responsibility for all of the company’s Consumer Packaging businesses. He became SVP in 2013 and in 2015 added responsibility for the company’s Protective Solutions and Reels businesses.
Prior to joining Sonoco, Tiede worked in private equity as president of Bostic Packaging/CorrFlex from 2000 to 2004 and president of Sterling International from 1998 to 2000.He also served as EVP of operations for Graphic Packaging International, Inc., in its flexible packaging division from 1994 to 1998.
Since Sanders took over as CEO in 2013, Sonoco has seen GAAP earnings grow by 46%, while EBITDA margin has improved by 140 basis points and return on net assets employed (RONAE) has expanded from 7.6% to 11.1%.
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 GM.He was promoted in 1998 to division VP and GM of Protective Packaging. Sanders was elected a corporate officer and named VP of Industrial Products, North America, in 2001.
He was subsequently named VP of Global Industrial Products in January 2006 and assumed responsibility for all industrial converting businesses as SVP in July 2007.In 2008, Sanders was named EVP of Industrial, with global operating responsibility for the company’s integrated industrial businesses. Sanders became EVP of Sonoco’s Global Consumer businesses in 2011 and was COO in 2012.
Jack Sanders (Courtesy: Linkedin)
