By Sabela Ojea
Packaging Corp. of America said its longtime finance chief, Robert Mundy, would step down and would be succeeded by the company's general counsel, Kent Pflederer.
The cardboard-box maker on Wednesday said that Mundy, who has served as financial chief of the company since 2015, will pass on his responsibilities as financial chief on May 1 and remain in an advisory position until he retires on March 1, 2026.
The company said Pflederer is a trusted advisor to the board of directors and has significantly contributed to the development and implementation of PCA's strategy over the years.
"He has a strong accounting and finance background and is very familiar with our finance function," the company added.
Mundy's departure comes less than a month after Chief Executive Mark Kowlzan said the first quarter would be seasonally slower, while adding that demand for packaging products is expected to remain strong. He forecast slightly lower volume across the company's paper segment, which would likely be hurt by higher costs.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
February 26, 2025 17:03 ET (22:03 GMT)
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