Leadership Changes at Sonoco Products Co.
Sonoco Products Co. announces significant senior leadership changes effective January 3, 2025, including the appointment of Jerry Cheatham as interim CFO. The company is also searching for a permanent CFO while expanding responsibilities for existing leaders. These developments come alongside the sale of its Thermoformed and Flexible Packaging business for $1.8 billion, marking a strategic shift focused on innovation and core competencies.
In the heart of Hartsville, South Carolina, big news has broken out of Sonoco Products Co. as they announce several senior leadership changes that are set to take effect on January 3, 2025. These changes come as the company continues to adapt and grow in a competitive market, and folks are buzzing with curiosity about what this might mean for their favorite local industry giant.
First up, we have the announcement that Jerry Cheatham has stepped into the role of interim Chief Financial Officer (CFO), a position recently vacated by Rob Dillard. Dillard had been part of the Sonoco family since 2018 but has decided to move on. With Cheatham’s impressive background—he’s been a finance leader at Sonoco for no less than 36 years—it appears he’s more than ready to take the reins.
Cheatham has held various finance and accounting leadership roles since he joined the company in 1988. Most recently, he served as vice president of global finance for the Industrial Paper Packaging segment. Given his extensive experience, he’s seen as a trusted and respected figure within the company. Many are looking forward to seeing how he ensures a smooth transition during this time of change.
Sonoco is currently on the hunt for a permanent CFO and is considering both internal and external candidates. It’s said that the goal is to find someone who can carry the company forward into its next chapter while maintaining the values and mission that have driven Sonoco’s success so far.
But wait, there’s more! Alongside Cheatham’s new role, Shawn Munday, the Vice President of Strategic Finance, will continue to report directly to CEO Howard Coker. Munday is relatively new to Sonoco, having joined in 2022, but he’s quickly made a name for himself. He oversees global treasury, tax, and mergers and acquisitions, significant areas that contribute to the company’s financial health.
Turning our attention to the legal side of things, John Florence, the General Counsel and Secretary, is seeing an expansion of responsibilities. He’s been with Sonoco since 2015 and will be taking on operational oversight of the North America Paper division alongside his current legal role. This dual responsibility shows just how trusted Florence is within the company.
Meanwhile, Roger Schrum will be coming out of retirement to take on the interim head of investor relations role, replacing Lisa Weeks, who is set to leave at the end of January 2025. Schrum isn’t a stranger to the company; he previously had a long and successful career with Sonoco spanning 17 years, so returning to the fold should be a smooth transition.
In addition to these leadership changes, Sonoco is also making waves in the business world by selling its Thermoformed and Flexible Packaging business to Toppan Holdings for an impressive $1.8 billion. This move highlights Sonoco’s strategic approach to focusing on its core areas while ensuring that it remains competitive and innovative in the packaging industry.
As these changes unfold, Sonoco Products Co. is poised for an exciting new chapter. With experienced leaders stepping up and new strategies being implemented, the next few months are sure to be full of possibilities for the company and the community surrounding it. The buzz around Hartsville is palpable, as everyone keeps a watchful eye on how things develop in this esteemed company!
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