Potential takeover target Smurfit Kappa (LON:SKG) has appointed a new chief executive.
The Irish paper packaging supplier said Tony Smurfit has succeeded Gary McGann as group chief executive.
Chairman Liam O’Mahony said: "The board would like to thank Gary for his substantial contribution in leading the group over the last 13 years and wishes him well in his retirement. The board looks forward to the group’s next phase of growth and development under Tony’s leadership.”
Last month, talk emerged that US group International Paper may re-kindle its interest in Smurfit, which has 43,000 employees at about 350 production sites across 33 countries.
The American group was reported to be lining up a bid in April, but market chatter in August was of an offer in the region of US$35-36 per share.
Smurfit shares fell 0.51p to 25.63p in midday trading in London.