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Global paper and packaging business Mondi Group has confirmed Peter Oswald will step down from his position as group chief executive of the company on 31 March.
Oswald is one of the longest-serving members of the Mondi management team, having joined the business in 1992. He has served as its chief executive since May 2017, but will now move aside from the role.
Mondi said its Nominations Committee will now begin the process of searching for a successor to Oswald. Andrew King, currently group chief financial officer at Mondi, will serve as interim chief executive when Oswald departs the role until a permanent successor is appointed.
Mondi has not yet stated whether it will be seeking an external or internal appointment, nor did it clarify why Oswald will be leaving his position.
“It has been an honour to have worked for Mondi and I am extremely proud of what we have achieved together,” Oswald said in an official media statement published on the Mondi website.
“While I am sad to be leaving, I know the group is in the hands of a strong Board and an experienced senior management team that will ensure its continued success.”
Oswald’s first role within the Mondi business was head of internal audit for the Frantschach Group, before going on to become its corporate controller.
After a spell as chief executive of the bag and flexibles business between 1995 and 2001, Oswald in 2002 moved to the position of chief executive of Mondi Packaging Europe. During his time in this role, he led the subsequent integration with Frantschach into the new Mondi packaging division.
Oswald went on to serve in various other senior executive roles within Mondi before in January 2008 becoming chief executive of the former Europe and International Division, moving into his current role in May 2017.
Mondi chair David Williams was keen to pay tribute to Oswald, outlining how he has helped the paper and packaging company transform its business during his time with the company.
Williams said in a media statement: “Peter has made an immense contribution to the growth and development of Mondi since joining in 1992, most notably during his tenure as chief executive officer of the former Europe & International Division and subsequently as CEO.
“His drive to grow the business and his focus on ensuring Mondi’s long-term sustainable future have been invaluable to Mondi. The board thanks Peter for his contribution to the Group and wishes him all the best for the future.”
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