Sonoco Products Co 8-K, filed Oct 21, 2020
Sonoco Products Co (SON)
8-K
2020-10-21
For: 2020-10-18
View Original
Added on
April 08, 2026
About this 8-K
Sonoco Products Co filed this 8-K on October 21, 2020, reporting on events of October 18, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 18, 2020
Commission File No. 001-11261
| Incorporated under the laws | I.R.S. Employer Identification | |||||||
of | No. | |||||||
Telephone: 843 /383-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐
Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
Ms. Eleni Istavridis was elected to the Sonoco Board of Directors on October 18, 2020.
Ms. Istavridis, 63, is currently a business consultant in McLean, Virginia. She retired from Bank of New York Mellon in 2015, where she was Executive Vice President and Head of Investment Services for Asia Pacific in Hong Kong and a member of the Operating Committee, Investment Services Executive Committee and Asia Pacific Executive Committee, as well as co-chair of the Women's Initiative Network in Asia Pacific. Prior to Bank of New York Mellon, she held senior leadership positions at Deutsche Bank and Bankers Trust in Asia. She also served as President and Chief Operating Officer of Tristate Holdings. She started her career at McKinsey and Company, serving financial institutions in the United States and Asia.
Ms. Istavridis has been appointed to serve on the Employee and Public Responsibility and Audit Committees of the Board, is an independent member of the Sonoco Board, and will stand for election by shareholders at the Company’s 2021 Annual General Meeting.
The Company has not entered into any material contracts, plans or arrangements with Ms. Istavridis. There are no family relationships between Ms. Istavridis and any other executive officer or director of the Company, and there are no arrangements or understandings pursuant to which she has been appointed. There are no transactions between the Company and Ms. Istavridis that would constitute related person transactions under Item 404(a) of Regulation S-K.
On October 18, 2020, Mr. Harry A. Cockrell, 70, informed the board of his decision not to stand for reelection to the Board at the Company's Annual General Meeting in 2021. Mr. Cockrell did not indicate any disagreement with the registrant on any matter relating to the registrant's operations, policies or practices, and no executive officer of the registrant is aware of any such disagreement. He has served on the board since 2013.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Index | ||||||||||||||
| 99 | ||||||||||||||
| Exhibit 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | |||||||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SONOCO PRODUCTS COMPANY | |||||||||||||||||||||||||||||
| Date: October 21, 2020 | By: | /s/ Julie C. Albrecht | |||||||||||||||||||||||||||
| Julie C. Albrecht | |||||||||||||||||||||||||||||
| Vice President and Chief Financial Officer | |||||||||||||||||||||||||||||
Exhibit 99
| October 19, 2020 | Contact: Roger Schrum | ||||||||||
| +843-339-6018 | |||||||||||
| roger.schrum@sonoco.com | |||||||||||
Istavridis Joins Sonoco Board of Directors
Cockrell Will Not Stand for Board Election in 2021
Hartsville, S.C., U.S. - Sonoco (NYSE: SON), one of the most diversified global packaging companies, today announced that Eleni Istavridis has been elected to its Board of Directors. In addition, the Company announced that Harry A. Cockrell has decided not to stand for reelection to the Board at the Company’s Annual General Meeting in April 2021.
Istavridis, 63, has extensive leadership experience in banking and manufacturing, spending more than two decades working in Asia. She currently is a business consultant residing in McLean, VA. Istavridis retired from Bank of New York Mellon in 2015 where she was Executive Vice President and Head of Investment Services for Asia Pacific in Hong Kong. She was a member of BNY Mellon's Operating Committee, Investment Services Executive Committee and Asia Pacific Executive Committee. In addition, she co-chaired the bank’s Women’s Initiative Network (WIN) in Asia Pacific. With 14 chapters across the Asia Pacific region, WIN serves as a platform for employee engagement, diversity and inclusion, and outreach to local communities and professional networks.
Prior to joining BNY Mellon, Istavridis held senior leadership positions at Deutsche Bank and Bankers Trust in Asia. She also served as President and COO of Tristate Holdings, a Hong Kong-based apparel manufacturing company. She started her career at McKinsey and Company, serving financial institutions in the United States and Asia.
Cockrell, 70, is managing director of Pacific Tiger Group Limited, a Hong Kong-based privately held investment enterprise with a wide-range of business and assets across the Asia/Pacific. He has served on the board since 2013.
“We are extremely pleased to have Eleni joining Sonoco’s Board as she brings a wealth of experience in banking, manufacturing and business development, while spending much of her career engaged with Asian businesses, which is an important region for Sonoco’s growth,” said John Haley, Sonoco’s Chairman of the Board of Directors. “Also, on behalf of the entire board, I want to thank Harry for his many years of commitment to Sonoco, first as partner in the development of Sonoco’s Asia/Pacific business, and then serving on the board. We wish him well in his future endeavors.”
Istavridis received her Bachelor of Arts degree from Harvard College, a Master in International Affairs from Columbia University School of International and Public Affairs and an MBA from Columbia University Graduate School of Business. She also participated in numerous community service activities supporting educational enrichment in emerging Asian markets.
Istavridis is an independent member of the Sonoco Board and will stand for election by shareholders at the Company’s April 2021 Annual General Meeting.
(more)
Exhibit 99
About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $5.4 billion, the Company has 23,000 employees working in approximately 300 operations in 36 countries, serving some of the world’s best known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate purpose of Better Packaging. Better Life. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2019. For more information, visit www.sonoco.com.
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