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TAMPA - Crown Holdings, Inc. (NYSE:CCK), an $11.5 billion packaging solutions provider with annual revenues of $11.9 billion, announced Monday that Gary Gavin will be promoted to President of the Crown Americas Division, effective July 1, 2025.
Gavin, currently President of the company’s North American Beverage can business, will oversee Crown’s beverage can operations in Brazil, Colombia, Mexico, and North America, as well as its North American tinplate businesses.
In his new role, Gavin will report to Djalma Novaes, Jr., Executive Vice President and Chief Operating Officer, and will continue to be based in Tampa.
Gavin joined Crown in January 2023 after 29 years at International Paper Company, where he most recently served as Vice President & General Manager of the North American Container Division. He holds a Bachelor of Science Degree in Chemistry from John Carroll University and an MBA from Carnegie Mellon University.
"Gary is an accomplished senior executive in the packaging industry with extensive operational and commercial experience in global markets," said Novaes in a statement from the press release.
Crown Holdings is a global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services.
The announcement comes as the company’s North American beverage can business has expanded capacity during Gavin’s leadership, according to the company statement. The company’s stock is currently trading near its 52-week high, reflecting strong market confidence. For deeper insights into Crown Holdings’ performance and valuation, including exclusive ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, Crown Holdings has announced several key leadership changes and strategic developments. The company revealed that Djalma Novaes, Jr. will be promoted to Executive Vice President and Chief Operating Officer, effective July 1, 2025. This follows the transition of Gerard Gifford to the role of Executive Vice President and Chief Administrative Officer until his retirement in early 2026. Additionally, Dr. John Rost will take over as the President of the Asia Pacific region, succeeding Carlos Baila, who is stepping down for personal reasons.
Crown Holdings also announced plans to expand its production capabilities in Ponta Grossa, Brazil, adding a third high-speed production line to increase capacity by 50%. This expansion is expected to be operational by the third quarter of 2026. Despite this investment, the company maintains its 2025 free cash flow guidance at $800 million and capital expenditures at $450 million.
Analysts have responded to these developments with varied ratings. RBC Capital reaffirmed its Outperform rating, citing strong Q1 results and optimistic guidance for fiscal year 2025. Meanwhile, BofA maintained a Buy rating, highlighting the strategic significance of the Brazil expansion. Truist Securities reiterated a Hold rating with a $110.00 price target, noting the company’s continued growth in the region. These updates reflect Crown Holdings’ ongoing efforts to enhance its market position and operational capabilities.
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