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LAKE ZURICH, Ill. - ACCO Brands Corporation (NYSE:ACCO), currently trading at $3.78 with a market capitalization of $342 million, announced several changes to its senior executive leadership team as part of its ongoing multi-year restructuring and cost savings program. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.76, despite recent market challenges.
Patrick Buchenroth, Executive Vice President and President of the Americas segment, will leave the company effective August 1, 2025. The Americas segment will subsequently be led by Jed Peters as Senior Vice President and President of North America, overseeing U.S. and Canadian operations, and Rubens Passos, who will lead businesses in Brazil, Mexico, Chile and Latin American export markets. These changes take effect July 1, 2025.
Additionally, Cezary Monko, Executive Vice President and President of the International segment, will begin transitioning out of the company on December 31, 2025. AJ Spijkervet has been appointed to succeed him as Senior Vice President and President, International, effective January 1, 2026, with responsibility for commercial activities in EMEA, Australia, New Zealand, Asia and export markets in the Middle East and Africa.
"We are focused on delivering sustained, profitable sales growth, and our leadership team is committed to providing value to our customers and consumers," said Tom Tedford, President and Chief Executive Officer of ACCO Brands, in the press release.
The company stated these leadership changes aim to simplify its operating structure, bring key leaders closer to customers, and better leverage global sourcing capabilities.
ACCO Brands, which manufactures branded consumer and office products including AT-A-GLANCE, Five Star, Kensington, and Mead, will continue reporting through two segments: Americas and International.
In other recent news, ACCO Brands Corporation reported a decline in sales for the first quarter of 2025, with revenue totaling $317 million, slightly missing the forecast of $318.05 million. The company achieved an earnings per share (EPS) of -$0.02, surpassing the anticipated -$0.05. Despite these mixed results, ACCO Brands is engaged in a $100 million multi-year cost reduction initiative and is expanding product lines to support hybrid work environments. In a separate development, Fitch Ratings downgraded ACCO Brands’ Issuer Default Rating to ’BB-’ from ’BB’, citing expectations of sustained high leverage and declining EBITDA. Fitch projects ACCO’s EBITDA could drop to around $190 million with leverage potentially exceeding 4.0x in 2025. Additionally, ACCO Brands held its Annual Meeting, where shareholders approved several key proposals, including the election of nine directors and the ratification of KPMG LLP as the independent auditor for 2025. The meeting also saw the approval of an amendment to the 2022 ACCO Brands Corporation Incentive Plan, increasing the number of shares reserved for issuance. These developments reflect ongoing challenges and strategic adjustments as ACCO navigates market dynamics.
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