Change at the top for Avery Dennison - sportstextiles: Lea SportsTextiles

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Change at the top for Avery Dennison

29/10/2014
Avery Dennison Corporation has elected Mitchell Butier as president and reported sales growth of 4% in the third quarter to $1.56 billion.

Mr Butier has been the packaging and labelling group’s senior vice-president and chief financial officer since June 2010, and will continue to serve as CFO until a successor is named.

CEO Dean Scarborough said: “Mitch has been a great thought partner in shaping our business model, and an architect of our value creation strategy. He has worked in both of our core businesses, and played an instrumental role in developing their strategies for profitable growth.”

He added that the third quarter results were in line with expectations but “given recent top-line trends and headwinds from currency, we have modestly lowered our guidance for full-year earnings”.

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