Avery Dennison Corporation, a global materials science and manufacturing company, has made an announcement regarding changes in its executive leadership. Mitch Butier, the current CEO, has decided to retire effective September 1, 2023, after leading the company for much of the past decade. The company's board of directors has elected Deon Stander, the current president and chief operating officer, as the new President and Chief Executive Officer, marking a planned succession process.

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Mitch Butier Transitions to Executive Chairman

After a decade of dedicated service as CEO, Mitch Butier has chosen to retire from his current position. However, he will continue to contribute to the company's growth and success as the Executive Chairman of the board of directors. Butier expressed his gratitude for the opportunity to lead Avery Dennison and commended the exceptional team that has elevated the company's performance and positioned it for future achievements.

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Deon Stander Takes the Helm

Deon Stander, the current president and chief operating officer, has been appointed as the new President and Chief Executive Officer of Avery Dennison. With a career spanning over 20 years at the company, Stander has held several leadership roles globally, showcasing his capability to take on increased responsibility and deliver impactful results.

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Excitement Surrounding the New CEO

Both Butier and the board of directors expressed their confidence in Deon Stander's ability to lead the company forward. Having worked closely with Butier for years, Stander is well-versed in Avery Dennison's values and has demonstrated outstanding stewardship. His proven track record, including successfully advancing the intelligent labels platform, positions him as the ideal leader to guide the company to even greater heights.

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Acknowledgment and Support from the Board

Patrick Siewert, the lead independent director of Avery Dennison's board of directors, expressed gratitude to Mitch Butier for his exceptional leadership and the transformative changes made during his tenure. The company experienced remarkable growth, improved sustainability objectives, and fostered its greatest growth platform, intelligent labels. The board is confident in Deon Stander's leadership capabilities and anticipates the company's continued success under his guidance.

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Members of LevelFields received the alert of this event on May 24, 7:05 AM ET