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Sealed Air Corporation (NYSE:SEE) reported that Steven Flannery, President of Food, has left the company effective immediately. The announcement was made in a press release statement included in a filing with the U.S. Securities and Exchange Commission. The company’s stock, currently trading at $43.40, sits near its 52-week high of $44.27 and has delivered impressive returns of 37.75% over the past six months.
According to the company, the departure was mutually agreed upon between Sealed Air and Mr. Flannery on November 20. There are no changes to the severance arrangements for Mr. Flannery, who will receive compensation as outlined in the previously disclosed Sealed Air Corporation Executive Severance Plan.
No additional information regarding the reasons for Mr. Flannery’s departure or plans for his replacement was disclosed in the filing.
Sealed Air Corporation is based in Charlotte, North Carolina, and its common stock is listed on the New York Stock Exchange under the ticker SEE. The information in this article is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Sealed Air Corporation announced its third-quarter earnings for 2025, surpassing analysts’ expectations with an adjusted earnings per share (EPS) of $0.87, compared to the forecasted $0.70. The company also reported revenue of $1.35 billion, outperforming the predicted $1.31 billion. In a significant development, Sealed Air has entered into a definitive agreement to be acquired by private investment firm Clayton Dubilier & Rice (CD&R) for $10.3 billion in an all-cash transaction. This acquisition agreement offers Sealed Air stockholders $42.15 per share in cash. Meanwhile, Stifel downgraded Sealed Air from Buy to Hold, raising its price target to $45.00 amid ongoing privatization talks. Bank of America has suspended its rating on Sealed Air due to the potential buyout, citing the possibility of the deal either collapsing or another buyer emerging. Additionally, RBC Capital raised its price target for Sealed Air to $52.00, maintaining an Outperform rating following the company’s strong third-quarter results and improved fiscal year 2025 guidance. These developments highlight significant shifts and expectations surrounding Sealed Air’s financial and strategic landscape.
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