Smurfit Kappa Group CEO, Tony Smurfit named 2021 European CEO of the Year
- Wall Street ends down as markets whipsaw ahead of Fed meeting
- Microsoft (MSFT) Stock Falls 4% Despite Q2 Beat
- Equities Selloff Isn't Over Yet, Stay Defensive and Prepare for S&P 500 Below 4,000 - Morgan Stanley's Wilson
- Texas Instruments (TXN) Shares Up 2% on Q4 Beat and Raise
- Euro falls to one-month low as Ukraine tensions simmer
Award to be presented at the first virtual Fastmarkets RISI European Conference
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
BOSTON, Jan. 7, 2021 /PRNewswire/ -- Fastmarkets RISI, the definitive source of commodity data and insights for the forest products industry, today has announced that Tony Smurfit, CEO of Smurfit Kappa Group, has been named the Fastmarkets RISI 2021 European CEO of the Year. The award will be presented at the Virtual Fastmarkets RISI European Conference, on Monday, March 8th.
The European CEO of the Year Award is nominated by a group of investment analysts, industry consultants and commentators covering the European and global pulp and paper industry.
The reasons cited for Mr. Smurfit's win largely centered around his leadership during the Covid-19 pandemic and the company's continued investment in future growth. One analyst recognized "the company's resilient performance during the pandemic" as well as "their recent front-footed approach to investing to capitalize on the sustainability opportunities that are emerging in their end markets."
Smurfit Kappa is the fifth largest containerboard producer in the world. The company operates with a top capacity position in Europe along with notable positions in Mexico and Latin America, as well as North America. In early December, Smurfit Kappa's stock hit a record high, which was eclipsed this week. Becoming CEO in 2015, Mr. Smurfit has since "delivered total shareholder returns of 180% against a market (FTSE100) of 17%," an industry contact said.
Following 18% profit margins in 2018 and 2019, Smurfit Kappa was on track to another 18% margin year for 2020 – with sales of 8.3 billion to 8.4 billion Euros, based on a Fastmarkets RISI PPI Pulp & Paper Week estimate, and a company-guided EBITDA of 1.46 billion to 1.48 billion Euros.
A second nominating analyst referred to Smurfit Kappa investments decisions as "clear management leadership, calling the trough on Covid-19 box demand and investing for multi-year box volume and sustainability growth ahead."
A further analyst praised Mr. Smurfit's "positive management behavior" during the recent Covid-19 outbreak and cited this as a reason for his win. The analyst was particularly impressed by the company's recognition of their "humble hero employees who kept customers supplied with boxes during the worst of Covid-19."
According to Smurfit Kappa, since the beginning of the coronavirus outbreak, Tony Smurfit virtually visited more than 250 plants, and the Group also paying back government relief funds it received and provided a fourth-quarter bonus to employees.
When told of his win, Mr. Smurfit commented, "I am very happy to receive this very prestigious award mainly for the recognition it reflects on all Smurfit Kappa Group employees who tirelessly and selflessly worked to ensure our customers are supplied by our beautiful and essential products."
Tony Smurfit will deliver a keynote speech on March 8th at the Fastmarkets RISI European Conference, to be held virtually on Zerista this year.
About Fastmarkets RISI
Fastmarkets is the leading price reporting, analytics and events organization for global commodities markets, including the forest products sector, as Fastmarkets RISI. Businesses working in the pulp and paper, packaging, wood products, timber, biomass, tissue, and nonwovens markets use Fastmarkets RISI data and insights to benchmark prices, settle contracts and inform their strategies worldwide. Along with objective price reporting and industry data, Fastmarkets RISI provides forecasts, analysis, conferences and consulting services to stakeholders throughout the forest products supply chain.
View original content to download multimedia:http://www.prnewswire.com/news-releases/smurfit-kappa-group-ceo-tony-smurfit-named-2021-european-ceo-of-the-year-301202874.html
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hamilton Lane joins iCI private equity initiative to support climate change action
- Hisense Commits to Achieve GHG Emissions Reduction Target: A 202.6% Reduction from 2021 Levels by 2022
- Elbit Systems Awarded a $16 Million Contract to Supply a Space Telescope to the Weizmann Institute of Science
Create E-mail Alert Related CategoriesPRNewswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!