MARIETTA, Ga. (AFX) - Paperboard and packaging company Graphic Packaging Corp. said Friday its board of directors approved a management succession plan that will promote several executives.
Under the plan, current Chief Operating Officer David Scheible, 49, will become president and chief executive on Jan. 1 to replace Stephen Humphrey, 61, who will then become vice chairman.
Executive chairman Jeffrey H. Coors, 61, will become vice chairman Aug. 8, at which time John R. Miller,68, will be named non-executive chairman.
Scheible has been the company's COO since Oct. 2004.
Shares of Graphic Packaging fell 6 cents to close at $1.68 on the New York Stock Exchange.
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