Crown Holdings, Inc. Announces the Retirement of Alan W. Rutherford
as its Chief Financial Officer and the Appointment of Timothy J.
Donahue as the Company's New CFO
PHILADELPHIA, Dec. 13 /PRNewswire-AsiaNet/ --
Crown Holdings, Inc. (NYSE: CCK) announced that Alan W. Rutherford,
65, has decided to step down as Chief Financial Officer effective today.
Timothy J. Donahue, 46, has been promoted to Executive Vice-President and
Chief Financial Officer of the Company and will report to John W. Conway,
the Company's Chairman and Chief Executive Officer.
Mr. Rutherford will continue to serve as Vice Chairman of the Board of
Directors and as Executive Vice President of the Company. He expects to
retire as Executive Vice President at the end of March 2009 following an
orderly transition of responsibilities. Mr. Rutherford will remain a member of
the Company's Board of Directors after his retirement.
"We are deeply indebted to Alan for his dedication and his outstanding
contributions to the Company over the last 34 years. He has been an
indispensable partner to me as we have worked to successfully turn the
Company around and restore its leadership in the rigid metal packaging
industry," Mr. Conway stated. "I look forward to working with him through the
transition and as a director in the future," said Mr. Conway.
Mr. Donahue was formerly Senior Vice President - Finance, a position he
had held since 2000. Prior to that, he had served since 1991 as the
Company's Controller. He joined Crown in 1990 as Manager of Domestic
Accounting. Earlier in his career, Mr. Donahue was with the public
accounting firm Price Waterhouse, now PricewaterhouseCoopers.
Mr. Conway commented, "Tim has served the Company for more than 18
years and brings a wealth of financial experience to his new position. He has
been an integral part of our senior management team and we are delighted
to have him succeed Alan as our next CFO. I look forward to working with
him more closely as we continue to move Crown forward in the global
marketplace."
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release
consists of forward-looking statements. These forward-looking statements
involve a number of risks, uncertainties and other factors that may cause
actual results to be materially different from those expressed or implied in the
forward-looking statements. Important factors that could cause the
statements made in this press release or the actual results of operations or
financial condition of the Company to differ are discussed under the caption
"Forward-Looking Statements" in the Company's Form 10-K Annual Report
for the year ended December 31, 2007 and in subsequent filings made prior
to or after the date hereof. The Company does not intend to review or revise
any particular forward-looking statement in light of future events.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of
packaging products to consumer marketing companies around the world.
World headquarters are located in Philadelphia, PA. For more information,
For more information, contact:
Timothy J. Donahue, Executive Vice President and Chief Financial Officer;
Tel: (215) 698-5088, or
Ed Bisno, Bisno Communications; Tel: (212) 717-7578
SOURCE: Crown Holdings, Inc.
CONTACT: Timothy J. Donahue,
Executive Vice President and
Chief Financial Officer of Crown Holdings, Inc.,
+1-215-698-5088; or
Ed Bisno of Bisno Communications,
+1-212-717-7578,
for Crown Holdings, Inc.
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