Avery Dennison Announces Change in Board Leadership Structure
David Pyott will be stepping down as lead independent director, a position he has held for 10 years.
Mentor, Ohio-based Avery Dennison announces an upcoming change to its board of directors following its annual meeting of shareholders on April 23.
Patrick T. Siewert will serve as lead independent director following the annual meeting, subject to his reelection. Siewert will replace David E.I. Pyott, who has decided not to stand for reelection at the 2020 annual meeting so that he may spend time on other endeavors.
“I am pleased to announce that the independent directors of our board have elected Patrick as lead director and I look forward to his continued focus on our culture of integrity and strong governance,” says Mitch Butier, chairman, president and CEO. “I also want to thank David for more than 20 years of board service. He has been an influential leader throughout his tenure, and we have benefited tremendously from his commitment to the company.”
“It’s been a privilege for me to serve on the Board of Avery Dennison,” says Pyott. “I’m confident that the management team and the company’s talented global workforce will continue to deliver long-term value to all its stakeholders.”
Siewert currently serves as the managing director and partner of The Carlyle Group. He was first appointed to Avery Dennison’s board in April 2005, and is currently serving as chairman of the board’s Audit and Finance Committee.
Pyott was first appointed to Avery Dennison’s board in November 1999, becoming lead independent director in 2010.