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“It’s an incredible moment to witness the fusion of two truly great companies. We have an immense and exciting future ahead… Smurfit WestRock is set to conquer the world of sustainable, paper-based packaging,” said CEO Tony Smurfit before ringing the NYSE’s opening bell.
Smurfit Kappa has successfully completed its acquisition of WestRock, transforming Smurfit WestRock into one of the premier packaging companies globally.
Ownership of the newly formed entity is majority-held by Smurfit Kappa shareholders at 50.4%. The acquisition, valued at approximately $12.7 billion in late April, reflects the scale of this industry-shaping deal.
Trading of Smurfit WestRock shares commenced on the New York Stock Exchange on July 8, with concurrent trading on the LSE. Marking their inaugural business day, Smurfit WestRock executives participated in the NYSE opening bell ceremony on Monday.
The majority of the key executive roles at the newly formed company are held by former Smurfit Kappa leaders. Tony Smurfit, who served as the CEO of Smurfit Kappa, has taken on the role of CEO. In a similar move, Ken Bowles, the CFO of Smurfit Kappa, has stepped into the CFO position at the new entity.
David Sewell, the former CEO of WestRock, will be leaving the company. He has expressed his intention to keep his future plans private until after the completion of the acquisition.
corruga.expert
