LONDON (ShareCast) - (ShareCast News) - Paper and packaging company Smurfit Kappa has announced the appointment of Saverio Mayer, the chief operating officer of its European corrugated and converting operations, as the company's new chief executive of Europe.
He succeeds Roberto Villaquiran who is stepping down to pursue another opportunity.

CEO Tony Smurfit said: "Saverio Mayer has been with the group for over 30 years and was most recently the COO of our European corrugated and converting operations. Saverio has played a key role in the growth and development of our European business and will bring great energy and experience to the role.

"Roberto leaves Smurfit Kappa to pursue another opportunity outside of the paper-based packaging sector. He has helped the group build and sustain its leading position in Europe and we thank him for his significant contribution to the group in his various leadership roles. We wish him well for the future."

At 1230 BST, the shares were down 1.9% to 2,053p.

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