SEE announced that its Board of Directors has elected Patrick Kivits as its new Chief Executive Officer, following an extensive search process, effective July 1st, 2024. Mr. Kivits will also serve as a member of the Board of Directors of SEE. Mr. Emile Chammas and Mr. Dustin Semach will remain with the company. Mr. Chammas will continue to serve as Chief Operating Officer and Mr. Semach's role is being elevated to President and Chief Financial Officer. Henry Keizer, SEE Board Chairman, said, "We are pleased to welcome Patrick as our new CEO. He has a strong track record of delivering growth and driving commercial and operational transformations within the packaging industry, and we are confident he will accelerate SEE's transformation and drive long-term value creation for our shareholders."

Total containerboard production in June increased nine percent compared to June 2020. It was up five percent when compared to the same six months of 2020. June 2021 production of containerboard for export decreased 15 percent compared to the same month last year; it was down 25 percent year-to-date. The containerboard operating rate was 92.7 percent, up 1.4 points from June 2020 and up 1.4 points year-to-date. Mill inventories of containerboard at the end of June decreased 74,000 short tons from the previous month and were down 76,000 short tons compared to June 2020.

Second Quarter Highlights and other notable items: *Net sales of $4.73 billion *Net income of $16 million, Adjusted Net Income of $101 million; net income included $81 million of restructuring and other costs, net *Earnings of $0.06 per diluted share (“EPS”) and Adjusted EPS of $0.39 *Consolidated Adjusted EBITDA of $618 million *Consumer Packaging Adjusted EBITDA margin increased 70 bps to 18.0% *Achieved over $160 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million