Graphic Packaging appoints CEO and announces cost cutting measures

Core Insights - Graphic Packaging has appointed Robbert Rietbroek as the new president and CEO, effective January 1, 2026, succeeding Michael P Doss who has led the company since 2016 [1][2] - Rietbroek has a strong background in the beverage industry, having previously served as CEO of Primo Water Corporation and held senior positions at PepsiCo, Kimberly-Clark, and Procter & Gamble [3] Leadership Transition - Michael P Doss expressed confidence in Rietbroek's ability to build on the strong foundation established during his tenure [2] - Rietbroek emphasized his admiration for Graphic Packaging's sustainable solutions and his eagerness to lead the company towards its Vision 2030 priorities [4] Financial Outlook - Graphic Packaging anticipates $60 million in staffing and cost reductions in 2026, with one-time charges estimated at $20 million [5] - The company has accelerated inventory reduction measures, which are expected to impact Q4 operating results by an additional $15 million [6] - For the full year 2025, net sales are forecasted between $8.4 billion and $8.6 billion, with adjusted EBITDA expected to be between $1.38 billion and $1.43 billion [6] - The adjusted earnings per share are projected to be between $1.75 and $1.95 [6] - The company has reaffirmed its free cash flow target of $700 million to $800 million for 2026 [7]