Avery Dennison names Deon Stander President & COO; Butier steps down as President

Avery Dennison Corp

Deon Stander appointed President and COO effective March 1, 2022; Mitchell Butier remains Chairman and CEO, ceases as President.
Stander's compensation: base salary $700k; target AIP 75% of salary; LTI target 300% of salary; special RSU grant $1.5M vesting in 3 years.
Director Mark J. Barrenechea will not stand for reelection at April 28, 2022 annual meeting; no disagreement with company.
Board approved bylaw amendments including redesignation of principal executive office to Mentor, Ohio from Glendale, California.

item 5.02 item 5.03 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Mark J. Barrenechea

Director

AVY · Avery Dennison Corp

Effective: 2022-04-28
Filed: February 28, 2022, 6:59 PM ET

Mark J. Barrenechea, a member of the Board of Directors (“Board”) of Avery Dennison Corporation (the “Company”), notified the Board of his decision not to stand for reelection at the Company’s annual meeting of stockholders to be held on April 28, 2022 so that he can focus on other endeavors. Mr. Barrenechea’s decision was not the result of any disagreement with the Company.

Appointed

Deon M. Stander

President and Chief Operating Officer (COO)

AVY · Avery Dennison Corp

Effective: 2022-03-01
Filed: February 28, 2022, 6:59 PM ET

the Board elected Deon M. Stander as the Company’s President and Chief Operating Officer (COO), effective March 1, 2022.

Role change

Mitchell R. Butier

President

AVY · Avery Dennison Corp

Effective: 2022-03-01
Successor: Deon M. Stander
Filed: February 28, 2022, 6:59 PM ET

Mitchell R. Butier, currently the Company’s Chairman, President and Chief Executive Officer, will cease serving as the Company’s President after that date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark J. Barrenechea departed as Director at Avery Dennison Corp.

Action: not stand for reelection
Role: Director

Exact text from the filing

Mark J. Barrenechea, a member of the Board of Directors (“Board”) of Avery Dennison Corporation (the “Company”), notified the Board of his decision not to stand for reelection at the Company’s annual meeting of stockholders to be held on April 28, 2022 so that he can focus on other endeavors. Mr. Barrenechea’s decision was not the result of any disagreement with the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Deon M. Stander was elected as President and Chief Operating Officer (COO) at Avery Dennison Corp.

Action: elected
Role: President and Chief Operating Officer (COO)

Exact text from the filing

the Board elected Deon M. Stander as the Company’s President and Chief Operating Officer (COO), effective March 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mitchell R. Butier changed role as President at Avery Dennison Corp.

Action: cease serving as
Role: President

Exact text from the filing

Mitchell R. Butier, currently the Company’s Chairman, President and Chief Executive Officer, will cease serving as the Company’s President after that date.

View on SEC.gov

Avery Dennison Corp filing history →

Source: SEC EDGAR

accession 0001193125-22-057997

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