Meet the Sealed Air Board of Directors

Sealed Air Corporation is an innovative packaging company that has been changing the way we think about packaging and sustainability for over 60 years now. Behind the company's success lies a group of individuals known as the Sealed Air Board of Directors. In this article, we'll "meet" them in more detail, and delve into their roles and responsibilities, achievements, challenges, strategies, and more. So, let's get started and discover the fascinating world of the Sealed Air Board of Directors.

Who are the Members of Sealed Air's Board of Directors?

The Sealed Air Board of Directors comprises 10 members, each with unique skills, experiences, and backgrounds. The current board members are: Edward L. Doheny II (Chairman of the Board), Richard L. Wambold (CEO), John M. Cassaday, Franz S. Humer, Christopher R. Jones, Lawrence R. Codey Jr., Judy C. Lewent, Jerry R. Whitaker, Dr. Marc A. Howze, and Emile Petrone.

Edward L. Doheny II has been a member of Sealed Air's Board of Directors since 2013 and was appointed Chairman of the Board in 2018. He has over 30 years of experience in the industrial and manufacturing sectors, having previously served as CEO of Joy Global Inc. and as an executive at Ingersoll-Rand Company.

Judy C. Lewent is a member of Sealed Air's Board of Directors and serves as the Chair of the Audit Committee. She has extensive experience in finance and accounting, having previously served as the Executive Vice President and Chief Financial Officer of Merck & Co., Inc. for over a decade.

The Roles and Responsibilities of Sealed Air's Board of Directors

The Sealed Air Board of Directors is responsible for overseeing and supervising the management of the company, ensuring that the company prospers in a manner consistent with the needs of its shareholders, customers, employees, and other stakeholders. Some of their key responsibilities include:

• Providing strategic guidance and direction to management
• Approving major corporate decisions
• Monitoring the company's financial performance
• Ensuring compliance with laws, regulations, and ethical standards
• Mitigating risks and identifying opportunities
• Assessing and managing the company's talent, compensation, and benefits
• Enhancing the company's reputation and promoting its social and environmental responsibility

One of the most important roles of the Sealed Air Board of Directors is to ensure that the company's operations are aligned with its long-term goals and objectives. This involves regularly reviewing and updating the company's strategic plan, as well as monitoring progress towards achieving key performance indicators.

In addition to their oversight and supervisory responsibilities, the Board of Directors also plays a critical role in representing the interests of Sealed Air's shareholders. This includes engaging with investors, communicating the company's financial performance and growth prospects, and ensuring that shareholder concerns are addressed in a timely and transparent manner.

How is Sealed Air's Board of Directors Elected and Appointed?

The Sealed Air Board of Directors is elected and appointed in accordance with the company's bylaws and corporate governance principles. The Board comprises a mix of independent directors, non-independent directors, and the CEO. The independent directors are selected based on their expertise, independence, and judgment, and they constitute the majority of the Board. The non-independent directors are typically representatives of major shareholders or former executives of the company. The CEO is a member of the Board by virtue of his or her position as the top executive of the company. All directors are elected each year at the company's Annual Meeting of Shareholders.

Sealed Air's Board of Directors is responsible for overseeing the company's management and ensuring that it operates in the best interests of its shareholders. The Board meets regularly to review the company's performance, strategy, and risk management practices. It also approves major investments, acquisitions, and divestitures, as well as executive compensation and succession plans.

In addition to its regular meetings, the Board also has several committees that focus on specific areas of the company's operations, such as audit, compensation, and governance. These committees are made up of a subset of the Board members and are responsible for providing recommendations and guidance to the full Board on their respective areas of expertise.

What is the History of Sealed Air's Board of Directors?

The Sealed Air Board of Directors has a rich history that reflects the company's evolution over time. The company was founded in 1960 by two engineers, Alfred W. Fielding and Marc Chavannes, who invented a new type of packaging material that eventually became known as Bubble Wrap. The company went public in 1964 and has since grown through a series of mergers, acquisitions, and divestitures. Over the years, the Board of Directors has played a critical role in shaping the company's strategy, culture, and success. Today, the Board continues to evolve in response to changing market conditions and global challenges.

One of the most significant changes to the Sealed Air Board of Directors occurred in 2013 when Jerome A. Peribere was appointed as the new CEO. Peribere brought a wealth of experience to the company, having previously served as the President and CEO of Dow Advanced Materials. Under his leadership, Sealed Air has continued to expand its global footprint and invest in new technologies to meet the evolving needs of its customers.

In recent years, the Sealed Air Board of Directors has also placed a greater emphasis on sustainability and corporate social responsibility. In 2020, the company announced a new set of sustainability goals, including a commitment to achieve net-zero greenhouse gas emissions by 2040. The Board has been instrumental in driving these efforts, recognizing that sustainable practices are not only good for the environment but also essential for long-term business success.

What is the Mission and Vision of Sealed Air's Board of Directors?

The Sealed Air Board of Directors is guided by a mission and vision that reflect the company's commitment to innovation, sustainability, and growth. The mission of the Board is to ensure that Sealed Air remains the world's leading innovator in sustainable packaging solutions and that the company creates value for all its stakeholders. The vision of the Board is to be the most trusted partner for customers, suppliers, employees, shareholders, and communities.

How Does Sealed Air's Board of Directors Contribute to the Company's Success?

The Sealed Air Board of Directors has contributed to the company's success in many ways over the years. Some of their notable contributions include:

• Providing strategic guidance and direction that has enabled the company to expand its footprint globally
• Overseeing major acquisitions and divestitures that have strengthened the company's market position and financial performance
• Promoting innovation and sustainability through the development of new products, services, and practices that reduce waste and enhance the circular economy
• Bolstering the company's corporate governance framework through robust oversight and risk management practices
• Championing diversity and inclusion initiatives that foster a culture of respect, integrity, and excellence

The Diversity and Inclusion Initiatives by Sealed Air's Board of Directors

The Sealed Air Board of Directors is committed to promoting diversity and inclusion within the company and across its value chain. The board recognizes that diversity and inclusion are key drivers of innovation, competitiveness, and social responsibility. To this end, the Board has implemented a number of initiatives aimed at enhancing diversity and inclusion, such as:

• Establishing diversity and inclusion goals and metrics
• Encouraging the recruitment and retention of diverse talent at all levels of the organization
• Providing training and development opportunities that foster cultural awareness and sensitivity
• Ensuring that supplier diversity is considered in all purchasing decisions
• Engaging with external stakeholders on issues related to diversity and inclusion

The Achievements and Milestones of Sealed Air's Board of Directors

The Sealed Air Board of Directors has achieved many milestones and accomplishments throughout its history. Some of their notable achievements include:

• Leading the acquisition of Cryovac, a leading provider of flexible packaging solutions, in 1998
• Implementing the Sustainable Solutions Steering Committee in 2007 to drive sustainability initiatives throughout the company
• Leveraging technology and innovation to develop new products and services, such as Instapak foam and Cryovac Darfresh vacuum packaging
• Being recognized for its exemplary corporate governance practices by various industry groups and organizations
• Partnering with customers, suppliers, and NGOs to enhance the sustainability of the packaging industry and reduce its environmental footprint

How Do Shareholders Interact with Sealed Air's Board of Directors?

Sealed Air's Board of Directors maintains an open and transparent relationship with its shareholders and welcomes their feedback and input. Shareholders can communicate with the Board through various channels, such as:

• Attending the company's Annual Meeting of Shareholders and asking questions or making comments during the Q&A session
• Contacting the company's Investor Relations team or the Corporate Secretary's office to relay their concerns or suggestions to the Board
• Submitting proposals or nominations for consideration at the Annual Meeting of Shareholders

The Challenges Faced by Sealed Air's Board of Directors in a Complex Business Environment

The Sealed Air Board of Directors operates in an increasingly complex and dynamic business environment, characterized by rapid technological advances, shifting market demands, and emerging risks and opportunities. Some of the key challenges facing the Board and the company include:

• Navigating the impacts of the COVID-19 pandemic on business operations and supply chain disruptions
• Adapting to changing customer preferences and needs, such as the shift towards e-commerce and sustainability
• Ensuring regulatory compliance and managing risks related to cybersecurity, data privacy, and intellectual property
• Attracting and retaining top talent, particularly in high-growth and competitive markets
• Striking a balance between short-term financial performance and long-term sustainability

The Future Plans and Strategies Outlined by Sealed Air's Board of Directors

The Sealed Air Board of Directors has outlined a number of future plans and strategies aimed at sustaining the company's growth and competitiveness in the years ahead. Some of their key priorities include:

• Expanding the company's presence in high-growth and emerging markets, such as Asia and Latin America
• Pursuing strategic acquisitions and partnerships that complement the company's core offerings and expand its market reach
• Investing in research and development to drive innovation and new product development
• Enhancing the company's digital capabilities and leveraging data analytics and automation to drive efficiency and customer insights
• Fostering a culture of diversity, inclusion, and continuous learning that empowers employees and unlocks their potential

The Corporate Governance Practices Followed by Sealed Air's Board of Directors

The Sealed Air Board of Directors follows a set of corporate governance practices that ensure ethical conduct, effective oversight, and accountability. Some of their key governance practices include:

• Establishing a clear division of responsibilities between the Chairman, the CEO, and the Board members
• Having a majority of independent directors on the Board
• Establishing Board committees (e.g. Audit, Governance, Compensation) with specific mandates and powers
• Conducting annual performance evaluations of the Board, its committees, and individual members
• Having a well-defined Code of Ethics and Conduct that sets high standards for integrity, transparency, and responsible business practices

The Compensation and Benefits for Sealed Air's Board Members

The compensation and benefits for Sealed Air's Board members are determined by the Nominating and Corporate Governance Committee, which takes into account market trends, best practices, and the individual contributions and qualifications of each member. The compensation package typically includes a combination of cash, equity, and benefits, such as insurance, retirement plans, and travel expenses. The Board members are also subject to stock ownership guidelines that require them to hold a certain amount of Sealed Air stock throughout their tenure on the Board.

The Innovations Led by Sealed Air's Board in Sustainability Practices

The Sealed Air Board of Directors has been at the forefront of driving sustainability and circular economy practices in the packaging industry. Some of their notable innovations include:

• Developing Cryovac Darfresh vacuum packaging, which reduces food waste and extends shelf life
• Introducing the Fill-Air Rocket, which is a high-speed inflatable packaging system that reduces cushioning material waste
• Partnering with other industry leaders to develop the SmartWay Transport Partnership, which improves the efficiency and environmental performance of transportation operations
• Investing in renewable energy and carbon offset projects that reduce the company's carbon footprint and support the transition to a low-carbon economy
• Engaging with customers, suppliers, and NGOs to promote sustainable practices across the value chain and foster collaboration and mutual benefits

In conclusion, the Sealed Air Board of Directors is composed of outstanding individuals with diverse backgrounds and experiences who are committed to driving the success and sustainability of the company. Through effective oversight, strategic direction, and ethical conduct, the Board has enabled Sealed Air to become a trusted partner for customers, employees, shareholders, and communities around the world.