Sealed Air Appoints New CFO, Peter Sandretto Jr.

TL;DR

Sealed Air just hired a new CFO, Peter Sandretto Jr., starting June 3rd. Big shoes to fill!

AI Summary

On May 30, 2024, Sealed Air Corporation announced the appointment of Peter A. Sandretto Jr. as its new Chief Financial Officer, effective June 3, 2024. Sandretto previously served as Executive Vice President and Chief Financial Officer of AptarGroup, Inc. He will receive an annual base salary of $500,000 and is eligible for a target annual bonus of 100% of his base salary.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $500,000 — CFO Base Salary (Annual compensation for Peter A. Sandretto Jr.)
• 100% — CFO Target Bonus (Potential annual bonus for Peter A. Sandretto Jr.)

Key Players & Entities

• Sealed Air Corporation (company) — Registrant
• Peter A. Sandretto Jr. (person) — Newly appointed Chief Financial Officer
• June 3, 2024 (date) — Effective date of appointment
• AptarGroup, Inc. (company) — Previous employer of new CFO
• $500,000 (dollar_amount) — Annual base salary for new CFO
• 100% (dollar_amount) — Target annual bonus percentage for new CFO

FAQ

From the Filing

0001140361-24-028719.txt : 20240604 0001140361-24-028719.hdr.sgml : 20240604 20240604085243 ACCESSION NUMBER: 0001140361-24-028719 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240530 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240604 DATE AS OF CHANGE: 20240604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEALED AIR CORP/DE CENTRAL INDEX KEY: 0001012100 STANDARD INDUSTRIAL CLASSIFICATION: PLASTIC MATERIAL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 650654331 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12139 FILM NUMBER: 241016176 BUSINESS ADDRESS: STREET 1: 2415 CASCADE POINTE BOULEVARD CITY: CHARLOTTE STATE: NC ZIP: 28208 BUSINESS PHONE: 980-221-3235 MAIL ADDRESS: STREET 1: 2415 CASCADE POINTE BOULEVARD CITY: CHARLOTTE STATE: NC ZIP: 28208 FORMER COMPANY: FORMER CONFORMED NAME: WR GRACE & CO/DE DATE OF NAME CHANGE: 19961015 FORMER COMPANY: FORMER CONFORMED NAME: GRACE HOLDING INC DATE OF NAME CHANGE: 19960805 8-K 1 ef20030540_8k.htm 8-K false SEALED AIR CORP/DE 0001012100 0001012100 2024-05-30 2024-05-30 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT   Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 30, 2024 SEALED AIR CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-12139 65-0654331 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 2415 Cascade Pointe Boulevard     Charlotte North Carolina   28208 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: ( 980 ) - 221-3235   Not Applicable   (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.10 per share SEE New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Act of 1934 ( §240.12b-2 of this chapter ).   Emerging growth company  ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   Departure of Officer   On May 30, 2024, Sealed Air Corporation (the “Company”) and Tobias Grasso, Jr., President, Americas of the Company, mutually agreed that Mr. Grasso will be stepping down from his current position as an executive officer effective June 4, 2