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): October 14, 2015 (October 11, 2015)
GREIF, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-00566 |
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31-4388903 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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425 Winter Road, Delaware, Ohio |
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43015 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (740) 549-6000
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 (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 5 Corporate Governance and Management
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 13, 2015, Greif, Inc. (the Company) issued a press release announcing that David B. Fischer will step down as President and
Chief Executive Officer and as a member of the Board of Directors of the Company, effective October 31, 2015. The Company also announced that the Board of Directors has elected Pete Watson to succeed Mr. Fischer as President and Chief
Executive Officer effective November 1, 2015, and Mr. Fischer will remain with the Company through December 31, 2015 to assist with the transition process. The Company is in the process of negotiating a separation agreement and
general release of claims with Mr. Fischer.
Mr. Watson, 57, has served as Chief Operating Officer of the Company since January 2014. From
September 2012 until December 2013, Mr. Watson was the Vice President and Group President, Paper Packaging & Services, Global Sourcing and Supply Chain and Greif Business System. Previously, he served in a variety of positions with the
Company, including Division President, Paper Packaging & Services, and President of CorrChoice (a division of the Company).
There are no
arrangements or understandings between Mr. Watson and any other persons pursuant to which he was selected as President and Chief Executive Officer. There are also no family relationships between Mr. Watson and any director or executive
officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Section 9 Financial Statements and Exhibits
Item 9.01. |
Financial Statements and Exhibits. |
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Exhibit
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Description |
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99.1 |
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Press release issued by Greif, Inc. on October 13, 2015. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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GREIF, INC. |
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Date: October 14, 2015 |
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By |
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/s/ Gary R. Martz |
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Gary R. Martz, Executive Vice President and
General Counsel |
EXHIBIT INDEX
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Exhibit
No. |
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Description |
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99.1 |
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Press release issued by Greif, Inc. on October 13, 2015. |
EXHIBIT 99.1
Greif Announces CEO Transition
Pete Watson to Become President and CEO
DELAWARE, Ohio, October 13, 2015 Greif, Inc., a world leader in industrial packaging, today announced that David Fischer will step down as
President and Chief Executive Officer and as a member of the Board of Directors of the company effective October 31, 2015. The company also announced that the Board has elected Pete Watson to succeed him as President and Chief Executive Officer
effective November 1, 2015, and Fischer will remain with the company through December 31, 2015 to assist with the transition process.
Michael
Gasser, Chairman of the Greif Board of Directors, said We thank David for his dedication and many significant achievements over the past eleven years at Greif, for the design and implementation of the companys transformation initiative
that is lowering our cost structure and improving our performance, and for his passion for safety and the well-being of people and the planet. We have a strong, dedicated organization, and we are confident in Petes ability to lead the
company.
Fischer said I am very proud of the Greif team and all that we have accomplished during my tenure with the company. With the
transformation initiative now taking hold and with the team in place, I am bullish on the outlook for achieving the goals we have set forth for 2017. I look forward to working with Pete and the executive team over the next couple of months to ensure
continuity in the implementation of the transformation.
Watson stated I look forward to leading Greif and working closely with the Board, the
senior management team and all of our associates around the world to execute our transformation process. These efforts are expected to provide immediate benefits to Greif and position us for more profitable growth.
About Pete Watson
Pete Watson has served as Chief
Operating Officer of the company since January 2014. From September 2012 until December 2013, Watson was the Vice President and Group President, Paper Packaging & Services, Global Sourcing and Supply Chain and Greif Business System. Since
he joined the company in 1999, Watson has served in a variety of positions, including Division President, Paper Packaging & Services, and President of CorrChoice (a division of the company). His prior experience includes various roles with
Union Camp Corporation, prior to its acquisition by International Paper. Watson is a graduate of Springfield College in Massachusetts, with a Bachelor of Science in Education and a Master of Science in Education Administration.
About Greif
Greif is a world leader in industrial
packaging products and services. The company produces steel, plastic, fibre, flexible and corrugated containers and containerboard, and provides reconditioning, 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.
Forward-Looking Statements
Certain information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on assumptions, expectations and other information currently available to management. Such forward-looking statements are subject to certain risks and uncertainties that could cause the companys
actual results to differ materially from those forecasted, projected or anticipated, whether expressed or implied. The most significant of these risks and uncertainties are described in Part I of the companys Annual Report on Form 10-K for the
fiscal year ended Oct. 31, 2014. Although the company believes that the expectations reflected in forward-looking statements have a reasonable basis, the company can give no assurance that these expectations will prove to be correct. Forward-looking
statements are subject to risks and uncertainties that could cause the companys actual results to differ materially from those forecasted, projected or anticipated, whether expressed in or implied by the statements. The company undertakes no
obligation to update or revise any forward-looking statements.
Contacts
Greif, Inc.
Analyst:
Robert Lentz, 614-876-2000
or
Media:
Scott Griffin, 740-657-6516
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