Exopack Holding Corp. a leading global manufacturer of flexible packaging and coated products today announced that executive chairman Jack Knott will return to the company in a full time capacity as the executive chairman and chief executive officer. In addition, Mike Alger, a member of Exopack’s board of directors and chairman of the audit committee, has been named the company’s chief financial officer. Knott and Alger were selected after thoughtful consideration of Exopack’s current initiatives and the company’s significant potential for growth in revenue, new products, and earnings. Both have a thorough understanding of the flexible packaging industry and deep knowledge of Exopack, as well as proven operating expertise. After the appointments become effective on March 1, 2013, interim CFO Duane Owens will continue to help lead Exopack as the fompany’s treasurer. Exopack is an affiliated portfolio company of Sun Capital Partners.
“I have a deep affinity for Exopack and for the packaging industry. While I have enjoyed my time as a Managing Director of Sun Capital Partners, I could not pass up the opportunity to get back into the operations side with this great company and to work with its senior team,” Knott says. “Exopack is an important portfolio company of Sun Capital which has a sizeable number of packaging company holdings, and Mike and I are both excited to work with management to help Exopack better serve its world-class customers, realize its growth potential and achieve the next level of performance.”
Knott previously served as CEO of Exopack from October 2005 to September 2011. During this time he and the management team built the Company into a global market leader by completing a series of acquisitions and successful integrations, streamlining operations, investing in state-of-the-art manufacturing equipment, developing innovative products, and generating strong organic growth. Prior to Exopack, Knott held executive management positions in the packaging, plastic and petrochemical industries, including Pliant Corporation; Huntsman Packaging; Rexene Corporation and CT Film. Knott is also a former chairman of the Flexible Packaging Association.
Alger, currently a group CFO at Sun Capital, has more than 32 years of senior finance and operations management experience in a variety of companies, and has worked closely with Knott over the past six years. Alger previously served as chief financial officer for Indalex Aluminum Solutions from 2000 to 2007, vice president of finance for Favorite Brands, a large multi-brand confection company, from 1998 to 2000; and chief financial officer for food companies Jel Sert and Olds Products between 1993 and 1998. Prior to that, Alger held a number of senior finance positions with Kraft General Foods and Baxter International. He started his professional career as an auditor for PricewaterhouseCoopers LLP. Alger also serves as a director for several private companies.