MeadWestvaco Corporation and Rock-Tenn Company Announces Executive Appointments
Mar 20 15
MeadWestvaco Corporation and Rock-Tenn Company announced the executive leadership team for the combined company following the completion of the transaction. Steve Voorhees will serve as the new company’s chief executive officer and John Luke will be non-executive chairman of the board. The executive leadership team announced includes: Bob Beckler, president, Packaging Solutions; Nina Butler, chief sustainability officer; Ward Dickson, chief financial officer; Pete Durette, chief strategy officer; Jennifer Graham-Johnson, chief human resources officer; Bob McIntosh, general counsel; Jim Porter, president, Paper Solutions; and Linda Schreiner, chief integration officer. Ed Rose, president, Specialty Chemicals, and Ken Seeger, president, Community Development and Land Management, will continue in their current leadership roles and report to Voorhees. Bob Beckler, president, Packaging Solutions, is currently executive vice president, MWV, and president of packaging. Nina Butler, chief sustainability officer, is currently senior vice president and senior environmental counsel, RockTenn. Ward Dickson, chief financial officer, is currently executive vice president and chief financial officer, RockTenn. Pete Durette, chief strategy officer, is currently senior vice president of strategy, MWV, and leader of the Home, Health & Beauty segment. Jennifer Graham-Johnson, chief human resources officer, is currently executive vice president, human resources, RockTenn. Bob McIntosh, general counsel, is currently executive vice president, general counsel and secretary, RockTenn. Jim Porter, president, Paper Solutions, is currently in the same role at RockTenn, leading the company’s containerboard, paperboard and pulp mills, as well as the forest resources organization, recycling business and sales of containerboard, paperboard, recycled fiber and pulp. Linda Schreiner, chief integration officer, is currently senior vice president, human resources, communications and the MWV Foundation, MWV.
Rock-Tenn Company Declares Quarterly Dividend, Payable on February 23, 2015
Jan 30 15
Rock-Tenn Company reported that its Board of Directors declared a dividend of $0.320525 per share on its Class A Common Stock, reflecting the regular quarterly dividend payment of $0.1875 per share plus an additional amount of $0.133025 per share which equalizes the absolute dividend between the company and MeadWestvaco Corporation as outlined in the Business Combination Agreement. The dividend will be paid to shareholders of record as of the close of business on February 10, 2015 and which will be paid on February 23, 2015.
Rock-Tenn Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014
Jan 26 15
Rock-Tenn Company reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, net sales were $2,514.2 million against $2,362.6 million a year ago, primarily as a result of sales from the Tacoma Mill and display acquisitions completed in fiscal 2014 and higher corrugated and folding carton volumes. Operating profit was $208.5 million against $195.4 million a year ago. Income before income taxes was $187.6 million against $172.3 million a year ago. Net income attributable to the company was $125.1 million or $0.88 per diluted share against $109.7 million or $0.75 per diluted share a year ago. Net cash provided by operating activities was $332.4 million against $304.5 million a year ago. Capital expenditures were $126.9 million against $100.6 million a year ago. Adjusted net income was $137.6 million compared to $121.9 million a year ago. Net Debt (as defined) decreased $177 million in the December quarter to $2.77 billion and at December 31, 2014. Adjusted earnings per diluted share were $0.96 compared to $0.83 a year ago.
Rock-Tenn Company to Report Q1, 2015 Results on Jan 28, 2015
Dec 24 14
Rock-Tenn Company announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Jan 28, 2015