Saverio Mayer on merger
From Smurfit Kappa CEO says Westrock merger will expand U.S. operations, is 'fantastic' for shareholders · · CNBCInternationalNews
“We finally got to an agreement at 7:15 this morning to finally close out this deal, which I think is going to be fantastic for our shareholders in the long term and the medium term.”
On , Saverio Mayer, President & Chief Executive Officer of Europe, MEA & APAC at Smurfit WestRock, spoke about merger during Smurfit Kappa CEO says Westrock merger will expand U.S. operations, is 'fantastic' for shareholders on CNBCInternationalNews.
About Saverio Mayer
In September 2023, Smurfit Kappa CEO Tony Smurfit announced the company's merger with U.S. peer WestRock, describing the deal as "fantastic" for shareholders. Smurfit stated that the merger addressed a "very big gap" in the company's portfolio due to its lack of U.S. operations, and said the combined entity would have $34 billion in adjusted annual revenue, with about 65% of revenues coming from the United States and Latin America. He noted that the company intended to list primarily in the U.S., citing a larger pool of capital there. Smurfit characterized WestRock as "at the beginning of its transformation" and Smurfit Kappa as "towards the end of its transformation," and said the combination would create "significant cost reduction opportunities." In a 2022 interview, Smurfit discussed his leadership philosophy, emphasizing the importance of communication and treating all employees with respect. He said that "everybody's the same" regardless of their role, and that he aims to be a leader who "wants to do the right thing for the people of the factories."