Sonoco Products Co., which is in the process of selling its thermoformed and flexible packaging business, has a new chief financial officer and will have a new head of investor relations and communications.
The Hartsville, S.C.-based company said Dec. 6 that Jerry Cheatham is now interim chief financial officer following the departure of former CFO Rob Dillard.
Cheatham has been vice president of global finance for the company's industrial paper packaging segment since December 2022.
"Jerry is a trusted and respected leader within Sonoco who brings strong financial and operational expertise into this role. He will ensure an orderly transition of duties and provide further stability to our global finance organization," CEO Howard Coker said in a statement.
Coker pointed to Dillard's work on "several significant transactions" including the sale of the Thermoformed and Flexible Packaging division to Toppan Holdings announced Dec. 18.
Sonoco will now look for a permanent successor to Dillard and will consider both external and internal candidates.
Roger Schrum, meanwhile, is the new interim head of investor relations. He is replacing Lisa Weeks who will leave at the end of January. Schrum retired from Sonoco in 2022 as vice president of investor relations and corporate affairs after 17 years with the company.
Sonoco, in mid-December, unveiled plans to sell the thermoforming and flexible packaging business to Japan-based Toppan for $1.8 billion. The transaction will see the company, which makes a wide variety of packaging products, chiefly leave plastics.