Pactiv Evergreen Appoints Douglas Owenby as Chief Operations Officer
August 30 2021 - 5:16PM
Pactiv Evergreen Inc. (NASDAQ: PTVE) announced today that Douglas
“Doug” Owenby will join Pactiv Evergreen as Chief Operations
Officer, effective September 13. Mr. Owenby will join the Pactiv
Evergreen Executive Leadership Team, reporting to CEO Mike King. In
this newly created, standalone role, Mr. Owenby will be responsible
for all Pactiv Evergreen operating functions globally, assuming the
operations leadership responsibilities that Mike Ragen, Pactiv
Evergreen’s Chief Financial Officer (CFO), accepted in 2018.
Mr. Owenby joins Pactiv Evergreen from Graham Packaging where he
has served as Chief Operations Officer since 2018. Prior to joining
Graham Packaging, Doug served as Chief Operating Officer for
Nexteer Automotive and in various executive leadership roles with
Benteler Automotive, BorgWarner Automotive and Bombardier
Recreation Products. Doug holds a Bachelor of Science in Mechanical
Engineering from Saginaw Valley State University.
“Doug has more than 30 years of business and operational
leadership experience that will be invaluable for Pactiv
Evergreen,” said Mike King, Chief Executive Officer. “Doug’s
operations expertise, perspective and his knowledge of the food
packaging industry will benefit our employees, our valued customers
and shareholders.”
“I would also like to thank CFO Mike Ragen for taking on the
operations leadership role in this interim period,” said Mike King.
“Under Mike’s leadership, the Company has greatly improved our
Logistics capabilities, implemented Factory Asset Intelligence and
delivered significant operational savings through our Strategic
Investment Program. Mike will continue to serve as our Chief
Financial Officer and remain deeply involved in all aspects of our
business.”
Operations Center of ExcellenceAs Pactiv
Evergreen establishes our foundation for future growth, the Company
will centralize its highly complex operations organization to serve
as a center of excellence (CoE). This centralized structure will
ensure efficient use of resources, sharing of knowledge and best
practices, improvement and standardization of operations processes
and consistent production of quality products for our valued
customers. The Operations CoE will support both the continued
professional growth of the Pactiv Evergreen operations team while
strategically structuring the company for continued improvement.
Both of these critical factors will enable the Company to scale its
operations processes moving forward.
About Pactiv Evergreen Inc. Pactiv Evergreen
Inc. (NASDAQ: PTVE) is one of the largest manufacturers of fresh
food and beverage packaging in North America. With a team of nearly
15,000 employees, the Company produces a broad range of on-trend
and feature-rich products that protect, package and display food
and beverages for today’s consumers. Its products, many of which
are made with recycled, recyclable or renewable materials, are sold
to a diversified mix of customers, including restaurants,
foodservice distributors, retailers, food and beverage producers,
packers and processors. Learn more
at www.pactivevergreen.com.
Contacts:Investors:Dhaval
Patel732.501.9657dhaval.patel@pactivevergreen.com |
Media:Beth
Kelly412.303.4771beth.kelly@pactivevergreen.com |
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d502f12c-12be-46ac-9669-5bd3020263ff
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