Greif Inc., an industrial packaging company that includes plastic containers, is forming a special board committee to help with the company's transformation initiative.
“The board of directors has been actively involved in reviewing the transformation plan during its formative stages and we are pleased with the progress today,” Chairman Michael Gasser said. “Given the scale and importance of this effort to the future of Greif, we have established this committee to provide strategic counsel to management.”
The new committee also gives the board more information about transformation plan progress, he said.
Greif rigid industrial packaging products included plastic drums, intermediate bulk containers, and water bottles. Flexible products includes a variety of plastic liners, shipping sacks, geotextiles and multi-walled bags.
“We are aggressively executing transformation initiatives through portfolio optimization and specific opportunities in individual work streams. During the past few quarters we have taken actions to sell non-core businesses and continue to address operations that no longer fit our business portfolio,” CEO David Fischer said in a statement earlier this year.