Greif Announced Management Changes and Transition Plan

SEATTLE (Scrap Monster): Greif, Inc. - the Delaware, Ohio-based global industrial packaging products and services major announced key changes to its top executive leadership team.

According to company press release, Pete Watson will retire as the company’s President and Chief Executive Officer effective February 1, 2022. The Board of Directors has already elected Ole Rosgaard as his successor effective that date. Moreover, Rosgaard will serve as the Chief Operating Officer until that time.

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Greif, Inc. declared 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. Mr. Watson will then become Executive Chairman of the Board of Directors. Also, Brude Edwards will serve as the lead director for the Board of Directors.

Mr. Gasser thanked Pete Watson for his outstanding leadership over his twenty-two year career at Greif and for his tireless contributions and accomplishments the last six years as President and Chief Executive Officer. Also, Pete noted that he is excited to work closely with Ole to ensure a seamless and successful transition. Meantime, Rosgaard stated that he looks forward to lead the company’s incredibly talented and diverse global team to create value for its customers and shareholders.