DS Smith's Group Finance Director steps down

The Group Finance Director of DS Smith, the recycled packaging company, is stepping down after accepting a role at a private equity backed business.

The Group Finance Director of DS Smith, the recycled packaging company, is stepping down after accepting a role at a private equity backed business.

Steve Dryden has handed in his 12-month notice which will expire in January 2014.

Until then he will continue his duties with the FTSE 250 company including the integration of SCA Packaging.

He will also ensure a smooth transition of responsibilities to his successor before he leaves.

"This was a difficult decision as I am proud of DS Smith's achievements and am confident that I leave the company in good shape and well positioned to continue to grow, having undertaken a smooth transition to my successor," Dryden said in a statement.

The board has started searching for candidates to replace Dryden.

Gareth Davies, Chairman of DS Smith, said he was sad to see Dryden go but wished him all the best.

"Steve has done an excellent job for DS Smith over the last five years," he said.

"He has been instrumental in significantly re-shaping the group in line with our strategic aim to become the leader in recycled packaging for consumer goods."

Miles Roberts, Chief Executive of DS Smith, added: "Steve has made a significant contribution to DS Smith. I have enjoyed working with him and wish him well in his new choice of career."

Shares dropped 0.24% to 212.20p at 11:48 Tuesday.

RD

Recommended

Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Don’t try to time the bottom – start buying good companies now
Investment strategy

Don’t try to time the bottom – start buying good companies now

Markets are having a rough time, so you may be tempted to wait to try to call the bottom and pick up some bargains. But that would be a mistake, says …
1 Jul 2022
Share tips of the week – 1 July
Share tips

Share tips of the week – 1 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
1 Jul 2022
Bunzl: boring is good for business
Share tips

Bunzl: boring is good for business

Food-service distribution company Bunzl is not a terribly exciting business, but it looks cheap and could be a great investment, says Rupert Hargreave…
30 Jun 2022

Most Popular

UK house prices are definitely cooling off – but are they heading for a fall?
House prices

UK house prices are definitely cooling off – but are they heading for a fall?

UK house prices hit a fresh high in June, but as interest rates start to rise, the market is cooling John Stepek assesses just how much of an effect h…
30 Jun 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
22 Jun 2022
The ten highest dividend yields on Aim
Income investing

The ten highest dividend yields on Aim

Rupert Hargreaves picks the highest-paying dividend stocks on Aim, London’s junior market for small and medium-sized growth companies.
29 Jun 2022