Business

Alcan Packaging, the global packaging group that has been up for sale since last year, has announced two senior management changes.

Michael Rubenstein, currently president of its global pharmaceutical packaging business, has been given the newly created position of chief growth and innovation officer.

Rubenstein will lead a team dedicated to innovation, customer partnerships and new growth platforms.

Mike Schmitt, president of Alcan's food packaging Americas business, will take over as president of global pharmaceutical packaging, but will also retain his current position.

Alcan said it would continue to run the businesses separately.

Alcan Packaging has been for sale since parent Alcan was bought by mining group Rio Tinto last summer.

Earlier this month, Rio Tinto appointed investment bank Morgan Stanley to find a buyer for the packaging division, following several rumoured bids that failed to result in a takeover. Indian groups Essel Propack and Ess Dee Aluminium were reported to be working on a joint bid for the business.