NEW YORK, June 15, 2016 /PRNewswire/ -- Clayton, Dubilier & Rice ("CD&R") today announced the appointment of David Scheible, former Chairman and Chief Executive Officer of Graphic Packaging International, as an Operating Advisor to CD&R funds.
Mr. Scheible is credited with building Graphic Packaging, a former CD&R portfolio company, into a top-performing packaging leader, expanding the business as a growing international company, and creating a culture of innovation and execution excellence. Under Mr. Scheible's leadership, Graphic Packaging's sales grew by 79%, EBITDA margins expanded by nearly 500 basis points, and the stock price increased 166%. Mr. Scheible drove the $1.75 billion merger between Graphic Packaging and Altivity Packaging, creating a new leader in global packaging.
"David is a talented executive with whom we have worked closely and successfully in the past," said Don Gogel, CD&R's Chairman and Chief Executive Officer. "David's skills managing strategic renewal and corporate transformation on a global scale make him a unique and valuable resource for our funds focused on industrial businesses."
Mr. Scheible served as Chief Executive Officer of Graphic Packaging from January 2007 to January 2016 and Chairman of the Board from May 2013 to May 2016. From 1999 to 2007, he held various senior leadership positions, including Chief Operating Officer and Executive Vice President of Commercial Operations. Before joining Graphic Packaging, Mr. Scheible held senior leadership positions at Avery Dennison Corporation after starting his career at B.F. Goodrich Corporation.
"As the CEO of a portfolio business, I always felt a part of CD&R's high integrity culture," said Mr. Scheible. "I look forward to sharing my experience and bringing value in new ways as an Operating Advisor."
RISI, an information provider for the global forest products industry, named Mr. Scheible the 2015 North American CEO of the Year. He was also named PaperAge magazine's Executive Papermaker of the Year, an award based on corporate vision, strategic objectives and strong leadership. In addition, Mr. Scheible was 2013 winner of the E&Y Entrepreneur of the Year in the Southeast for industrials.
David currently serves as Chairman of the Board of Benchmark Electronics Inc. and on the boards of Flint Group, Cancer Treatment Centers of America, Inc. and Georgia Partners in Education.
Mr. Scheible holds a B.S. in Biochemistry from Purdue University and an MBA in Finance and M.S.I.A. from the Krannert School of Business at Purdue University.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $21 billion in 66 businesses representing a broad range of industries with an aggregate transaction value of approximately $100 billion. The Firm has offices in New York and London. For more information, visit www.cdr-inc.com.
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