Sonoco Products Co 8-K, filed Feb 14, 2020
Sonoco Products Co (SON)
8-K
2020-02-14
For: 2020-02-11
View Original
Added on
April 08, 2026
About this 8-K
Sonoco Products Co filed this 8-K on February 14, 2020, reporting on events of February 11, 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): February 11, 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
On February 11, 2020, the Company promoted Rodger Fuller to the position of Executive Vice President, where he will be responsible for all Industrial and Consumer operations globally, which also includes the Company's Display and Packaging and Protective Solutions segments.
Mr. Fuller, 58, joined Sonoco in 1985 and has held several senior leadership positions. He was most recently Senior Vice President, Global Consumer Packaging, Display and Packaging and Protective Solutions, and previously served as Senior Vice President, Paper/Engineered Carriers U.S./Canada & Display and Packaging. Prior to this, he was Group Vice President, Paper and Industrial Converting, U.S. and Canada, and Vice President, Global Primary Materials Group. He has a BS degree in Business from Berry College and MBA from Emory University.
In connection with Mr. Fuller’s promotion to Executive Vice President, Global Industrial and Consumer, the Company's Executive Compensation Committee approved the following adjustments to his compensation. Effective February 1, 2020, Mr. Fuller’s base salary was increased 21% and his annual incentive compensation threshold, target and maximum payouts will be increased to 34%, 85%, and 170%, respectively, beginning January 1, 2020. Mr. Fuller was also granted an increase of $500,000 to his annual equity award. The increase in base salary, incentive compensation and equity award was determined using national market surveys and peer company data consistent with the Compensation Committee’s existing practices. Rodger will report to Howard Coker.
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: February 14, 2020 | By: | /s/ Julie C. Albrecht | |||||||||||||||||||||||||||
| Julie C. Albrecht | |||||||||||||||||||||||||||||
| Vice President and Chief Financial Officer | |||||||||||||||||||||||||||||
| February 12, 2020 | Contact: | Roger Schrum | |||||||||
| +843-339-6018 | |||||||||||
| roger.schrum@sonoco.com | |||||||||||
Rodger Fuller Named Executive Vice President
Overseeing Sonoco's Global Operations
Hartsville, S.C., U.S. – Sonoco (NYSE: SON), one of the largest global diversified packaging companies, today announced the elevation of Rodger Fuller to the position of Executive Vice President, where he will be responsible for all Industrial and Consumer operations globally, which also includes the Company’s Display and Packaging and Protective Solutions segments. Fuller reports to Howard Coker, Sonoco’s President and Chief Executive Officer, and the change is effective immediately.
“We are extremely fortunate to have someone of Rodger’s caliber to take on such a pivotal role. Rodger has broad and deep consumer and industrial experience, having served in leadership positions across every part of our organization during his 34 years of service to Sonoco,” said Coker. “Well respected throughout the Company, Rodger’s in-depth knowledge of Sonoco, which includes extensive commercial and operational expertise, will be invaluable to me, and our entire team, as we continue to look for ways to add value to our customers and our shareholders heading into this next decade and beyond.”
Fuller, 58, was most recently Senior Vice President, Global Consumer Packaging, Display and Packaging and Protective Solutions, and previously served as Senior Vice President, Paper/Engineered Carriers U.S./Canada & Display and Packaging. Prior to this, he was Group Vice President, Paper and Industrial Converting, U.S. and Canada, and Vice President, Global Primary Materials Group. Rodger began his career at Sonoco in 1985 in the Consumer sector of Sonoco, having held several senior leadership positions, including Vice President, Global Rigid Paper & Closures and Global Plastics. He has a BS degree in Business from Berry College and MBA from Emory University.
A photo of Fuller can be found here.
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 2020 as well as Barron’s 100 Most Sustainable Companies. For more information, visit www.sonoco.com.
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