GLOBAL - Crown Holdings Inc has announced the appointment of Timothy J. Donahue as its new President and CEO effective 1 January 2016.
Donahue - who has been with Crown for 25 years – replaces John W. Conway, who informed the Board of Directors of his decision to retire from his role as CEO, after 40 years with the company.
Conway has agreed to remain on the Board and will continue to serve as non-executive Chairman of the Board after his retirement. Additionally, the Board has elected Donahue as a member of the Board, effective immediately.
Donahue currently serves as the Company's President and Chief Operating Officer, a position he has held since 2013. Prior to that, he served as Executive Vice President and CFO from 2008 to 2013, as Senior Vice President – Finance from 2000 to 2008 and as the Company's Vice President – Corporate Controller from 1991 to 2000.
"I am proud of what we have accomplished at Crown and I am confident that Crown is well positioned for the future,” commented Conway. “Tim is ideally suited to succeed me as Chief Executive Officer. He has an intimate understanding of the Company and has gained valuable experience serving as both Chief Financial Officer and Chief Operating Officer. We will continue to work closely together to ensure a smooth transition. I look forward to continuing my service on Crown's Board as non-executive Chairman."
Donahue said, "I am honored to have the opportunity to serve as Crown's Chief Executive Officer and excited to lead our efforts to build on the foundation John and the entire executive team have put in place. I look forward to working with our dedicated employees throughout the world to improve on our strengths, such as our broad and diversified product portfolio, global leadership positions, strong customer base, technological leadership and commitment to sustainability."