UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

January 31, 2017

Date of Report

 

AVERY DENNISON CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

1 -7685

 

95-1492269

(State or Other Jurisdiction

 

(Commission

 

(IRS Employer

of Incorporation)

 

File Number)

 

Identification No.)

 

207 Goode Avenue
Glendale, California

 

91203

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (626) 304-2000

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Section 5 — Corporate Governance and Management

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(d)  On January 31, 2017, upon the recommendation of its Governance and Social Responsibility Committee, the Board of Directors (the “Board”) of Avery Dennison Corporation, a Delaware corporation (the “Company”), appointed Andres A. Lopez to the Board, effective February 1, 2017.  Mr. Lopez has not yet been appointed to serve on any committees of the Board.

 

In connection with his appointment and in accordance with the Company’s equity compensation program for non-employee directors, on February 1, 2017, Mr. Lopez received a prorated equity award consisting of 445 restricted stock units (“RSUs”), which will vest ratably over three years.  In addition, Mr. Lopez will be eligible to participate in the Company’s other non-employee director compensation programs as described in the Company’s proxy statement filed with the Securities and Exchange Commission on March 8, 2016.

 

A copy of the press release announcing Mr. Lopez’s appointment to the Board is attached as Exhibit 99.1 hereto and incorporated herein by reference.

 

Section 9 — Financial Statements and Exhibits

 

Item 9.01  Financial Statements and Exhibits.

 

(d)  Exhibits.

 

99.1

 

Press Release, dated February 2, 2017, announcing appointment of Andres A. Lopez to the Board of Directors of Avery Dennison Corporation.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

AVERY DENNISON CORPORATION

 

 

 

 

Date: February 3, 2017

 

 

By:

/s/ Mitchell R. Butier

 

 

Name:

Mitchell R. Butier

 

 

Title:

President and Chief Executive Officer

 

3



 

EXHIBIT INDEX

 

Exhibit
No.

 

Description

 

 

 

99.1

 

Press Release, dated February 2, 2017, announcing appointment of Andres A. Lopez to the Board of Directors of Avery Dennison Corporation.

 

4


Exhibit 99.1

 

PRESS RELEASE

 

 

 

For Immediate Release

 

ANDRES A. LOPEZ APPOINTED TO

AVERY DENNISON BOARD OF DIRECTORS

 

 

 

GLENDALE, CA – February 2, 2017 – Avery Dennison Corporation (NYSE:AVY) today announced that its board of directors has appointed Andres A. Lopez a director, effective February 1, 2017.

 

Lopez, 54, is the president, chief executive officer and executive director of Owens-Illinois, Inc. (NYSE: OI), the world’s largest glass container manufacturer with $6 billion in revenues and preferred supplier to many food and beverage brands.

 

“We’re extremely pleased to welcome Andres to our board,” said Peter K. Barker, Chair of the Governance and Social Responsibility Committee of the Board of Directors, Avery Dennison. “He brings more than 30 years’ experience in the global markets for food, beverage and pharmaceutical packaging.”

 

“Andres is a leader with a proven track record at Owens-Illinois, and deep global expertise and understanding of customer needs in the packaging industry,” added Dean Scarborough, Executive Chairman of the Board, Avery Dennison. “That knowledge will be invaluable to Avery Dennison as we continue to develop innovative and sustainable solutions for our customers.”

 

A native of Colombia, Lopez began his career with Owens-Illinois as a manufacturing engineer. He joined the company’s executive leadership team in 2004, advancing through a series of financial and operational roles. In 2015, Lopez became president and chief operating officer of the company and, in 2016, he was named president and CEO.

 

Lopez holds a Bachelor of Science degree in Production Engineering from Colombia’s Universidad EAFIT and completed the Executive Education Program at Stanford University.

 



 

PRESS RELEASE

 

 

 

About Avery Dennison

 

Avery Dennison (NYSE: AVY) is a global leader in pressure-sensitive and functional materials and labeling solutions for the retail apparel market. The company’s applications and technologies are an integral part of products used in every major industry. With operations in more than 50 countries and more than 25,000 employees worldwide, Avery Dennison serves customers in the consumer packaging, graphical display, logistics, apparel, industrial and healthcare industries. Headquartered in Glendale, California, the company reported sales of $6.1 billion in 2016. Learn more at  www.averydennison.com.

 

 

Avery Dennison Media Contact

Rob Six (626) 304-2361

rob.six@averydennison.com

 

 

Avery Dennison Investor Relations

Garrett Gabel (626) 304-2399

garrett.gabel@averydennison.com