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8-K - FORM 8-K - GREIF, INC | c15684e8vk.htm |
EXHIBIT 99.1
DAVID B. FISCHER TO SUCCEED
MICHAEL J. GASSER AS
GREIF, INC. CHIEF EXECUTIVE OFFICER
MICHAEL J. GASSER AS
GREIF, INC. CHIEF EXECUTIVE OFFICER
-Transition to Occur Nov. 1, 2011
DELAWARE, Ohio (April 18, 2011) Greif, Inc. (NYSE: GEF, GEF.B) President David B. Fischer, 48,
will add the title of CEO at the start of the companys 2012 fiscal year, Nov. 1, 2011. Current
Chairman and CEO Michael J. Gasser, 59, will continue in his role as executive chairman.
Ive worked closely with Dave for a number of years, and am pleased that Greif will be in such
capable hands day-to-day, said Gasser. After this transition, I will be able to focus more
intently on corporate strategy and on ensuring that the culture of The Greif Way is embedded deeply
in all our operations. And as executive chairman of the Board, I will continue to be actively
involved in the company, albeit at a higher level.
With the executive team already in place, and the superb talent working up through the ranks, I
remain wholly optimistic about Greifs future and its continued growth.
Gasser has been chairman and CEO since June 1994. He joined Greif in 1979 as internal auditor at
the companys headquarters in Delaware, Ohio. He became controller in 1981, a member of the
finance committee in 1987, vice president of finance in 1988, a member of the board of directors in
1991, vice chairman and chief operating officer in 1994 and chairman and CEO later that year.
In 1994, Greif was an industrial packaging company with operations in the US and Canada, with $526
million in sales and 4,500 employees. Under Gassers leadership, Greif has grown to become a
multi-national company with operations in 56 countries, 2010 sales of $3.5 billion and 16,000
employees.
Gasser serves on the board of directors of Bob Evans Farms and of the James Foundation, the
development board for The James Cancer Center at The Ohio State University Comprehensive Cancer
Center.
Fischer was named president and chief operating officer of Greif in October 2007. He joined Greif
as senior vice president and divisional president, Industrial Packaging & Services Americas in
November 2004, and later assumed responsibility for additional IP&S operations in Asia, Australia
and Africa.
About Greif, Inc.
Greif is a world leader in industrial packaging products and services. The company produces steel,
plastic, fibre, flexible, corrugated and multiwall containers and containerboard, and provides
blending, filling and packaging services for a wide range of industries. Greif also manages timber
properties in North America. The company is strategically positioned in more than 50 countries to
serve global as well as regional customers. Additional information is on the companys website at
www.greif.com.
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Contact:
Media:
Debra Strohmaier, APR
Vice President, Corporate Communications
Greif, Inc.
+1 740 549 6074
cell: +1 740 816 0692
Debra Strohmaier, APR
Vice President, Corporate Communications
Greif, Inc.
+1 740 549 6074
cell: +1 740 816 0692
Analysts:
Robert A. Lentz
Robert A. Lentz Associates
+1 614 876 2000
Robert A. Lentz
Robert A. Lentz Associates
+1 614 876 2000