Rexam promotes Graham Chipchase to succeed Van de Walle

Chipchase has been group director for plastic packaging since 2005 and will succeed Van de Walle on 1 January.  Chipchase joined the company as group finance director in February 2003.

Rexam chairman Peter Ellwood thanked Van de Walle for his valuable contribution to the board and for installing a strong market focus and discipline to manage the firm through difficult trading conditions.

He added the firm was delighted to welcome Chipchase to the role. “With Graham at the helm, we look forward with confidence to the next phase of Rexam’s development,” said Ellwood.

Van de Walle, who is stepping down to concentrate on non-executive interests, said he was pleased to be handing over to Chipchase.

“In my time as chief executive, we have established the foundations to build a successful future, and the board and I both believe it is the right time to hand the reins over the Graham to take the business forward,” he said.

The announcement comes as Rexam revealed it was confident about meeting market expectations of £278m pre-tax profit for the year, despite continued weak volumes.

In an interim management statement, the firm reported there had been no change in volumes for beverage cans in the first half of the year. European volumes were soft and the Russian market was challenging.

In plastic packaging, cost reductions partly offset continued weak demand. The pharmaceuticals business grew and personal care had benefited from product launches.

Rexam said that the carbonated soft drink and bottled water market continued to decline, which hit the firm’s closures business and “may now be a more enduring trend”.

Van de Walle said: “We remain cautious about the trading outlook, but will continue to focus on cash and costs to ensure we are well placed to participate fully in the upturn when it comes.”

Van de Walle has been chief executive of the London-based firm since taking over from Lars Emilson in February 2007.

The news follows last week’s announcement that McBride boss Miles Roberts had been selected to succeed Tony Thorne as chief executive of DS Smith.

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