Sealed Air Corp
SEE: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $55.00 | Ttbrpy | Jhylnvtv |
Sealed Air: New CEO Offers Outside Perspective but Macroeconomic Challenges Remain
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On June 13, Sealed Air announced that Patrick Kivits will become the company’s new CEO effective July 1. Kivits most recently served as the president of WestRock’s corrugated packaging division, overseeing the company’s largest business segment as the company executed a portfolio transformation. This announcement follows the departure of Sealed Air’s former CEO, Ted Doheny, in October 2023. The company’s current co-CEOs, Emile Chammas and Dustin Semach, will retain their current positions as COO and CFO, respectively. This hire makes sense to us, given Kivits’ experience in both packaging and manufacturing. Our narrow moat rating remains unchanged, and we are maintaining our $54 fair value estimate.