Shares of Snyder’s-Lance Inc (NASDAQ:LNCE) ended Monday session in red amid volatile trading. The shares closed down -0.61 points or -1.79% at $33.49 with 566,509.00 shares getting traded. Post opening the session at $34.03, the shares hit an intraday low of $33.46 and an intraday high of $34.05 and the price vacillated in this range throughout the day. The company has a market cap of $3.16 billion and the numbers of outstanding shares have been calculated to be 96.07 million shares.
Snyder’s-Lance Inc (LNCE) on Sept. 23, 2016 announced the appointment of Alexander Pease as Executive Vice President and Chief Financial Officer, effective November 1, 2016. The planned retirement of Rick Puckett as Chief Financial Officer was previously announced on May 26, 2016. Mr. Puckett will continue in his current role as Chief Financial Officer until November 1, 2016, and will remain with the Company in a consulting role for a period of time to ensure a smooth transition.
Mr. Pease joins the Company from McKinsey & Co. bringing significant financial expertise and cross industry experience to the Snyder’s-Lance organization. At McKinsey, he was a leader in their global corporate finance and business functions practice working with leading CFOs across a wide range of industries, helping their companies build shareholder value by strengthening their balance sheet, improving returns on invested capital and raising operating margins. Mr. Pease has deep expertise in zero based budgeting, business process improvement, broad based productivity transformation, treasury, and strategic buy and sell-side transactions. In addition, he has significant expertise in enterprise risk management and international growth.
From 2011 to 2015, Mr. Pease held the position of Senior Vice President and Chief Financial Officer of EnPro Industries (NPO), a diversified, multi-industrial equipment manufacturer with significant sales into the agricultural, food and pharmaceutical, other industrial end-markets. In this capacity, he also had responsibility for Global Supply Chain, Information Technology, Strategy and M&A.
Mr. Pease spent a total of ten years with McKinsey & Co. in various roles, including tenures prior to and subsequent to his role at EnPro. Mr. Pease received his Master of Business Administration degree from the Tuck School of Business at Dartmouth College. He also graduated with honors and distinction from the United States Naval Academy, and served for six years as a U.S. Navy SEAL in a range of international assignments.
Shares of Crown Holdings, Inc. (NYSE:CCK) ended Monday session in red amid volatile trading. The shares closed down -0.34 points or -0.63% at $53.90 with 565,041.00 shares getting traded. Post opening the session at $53.99, the shares hit an intraday low of $53.86 and an intraday high of $54.27 and the price vacillated in this range throughout the day. The company has a market cap of $7.51 billion and the numbers of outstanding shares have been calculated to be 139.68 million shares.
Crown Holdings, Inc. (CCK) on Sept. 8, 2016 announced that it has priced its private placement of €600 million principal amount of 2.625% senior unsecured notes due 2024, issued at par by Crown European Holdings S.A., a subsidiary of Crown, and its private placement of $400 million principal amount of 4.250% senior unsecured notes due 2026, issued at par by Crown Americas LLC and Crown Americas Capital Corp. V, each a subsidiary of Crown.
Both sets of notes will be unconditionally guaranteed by Crown and certain of its subsidiaries.
Crown intends to use the net proceeds of the two offerings, together with other available funds, to repay a portion of its term loan facility, to pay fees and expenses associated with the offering of the notes and for general corporate purposes.
The notes will be issued through a private placement and resold by initial purchasers to qualified institutional buyers under Rule 144A promulgated under the Securities Act of 1933, as amended, and to persons outside the United States under Regulation S of the Securities Act. The notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security in any jurisdiction in which such offer or sale would be unlawful.