Mondi PLC promotes chief financial officer to top job

() has appointed Andrew King as chief executive a month after Peter Oswald announced his departure.

King was initially nominated as an interim successor to take over at the end of March, when Oswald is set to leave.

READ: Mondi CEO Peter Oswald to step down

King has been at the FTSE 100-listed packaging group for 17 years in various strategy, business development and finance leadership roles.

“He has been instrumental in defining the group’s strategic direction since listing and I am confident he will bring significant insight and leadership to the role of CEO,” said chair David Williams.

“This appointment follows a formal review process, assessing both internal and external candidates, which convinced the board that he is the right person to lead the group.”

Shares dipped 1% to 1,642p on Tuesday morning.

–Adds shares–