Sealed Air (SEE) Jefferies Global Industrial Conference 2024 summary

Leadership and strategic direction

• Newly appointed CEO brings 25 years of specialty chemicals and packaging experience, with a strong operational and commercial background.

• Previous roles included significant portfolio changes, facility consolidations, and greenfield launches to modernize operations.

• Emphasis on moving away from a regional structure to distinct food and protective business segments for sharper management focus.

• Leadership is prioritizing tailored commercial strategies and segment-specific incentives to drive accountability and performance.

• Strategic review underway for the protective segment, with a focus on fixing commercial execution and portfolio gaps before considering structural changes.

Commercial and operational transformation

• Shift from generic, one-size-fits-all sales approach to targeted, segment-specific strategies, especially in protective packaging.

• Sales incentives now aligned with profitable growth in respective business segments, moving away from relationship maintenance.

• Enhanced use of CRM and pricing tools to improve commercial excellence and customer experience.

• Focus on talent management and ensuring the right people are in place to drive growth and commercial excellence.

• Automation and digital initiatives are being refined to support material growth and customer stickiness, not just equipment sales.

Business performance and market outlook

• Food segment delivered 5% volume growth in Q2, with gains across all product categories and regions.

• Expansion into adjacent markets such as roll stock, compostable trays, and fluids/liquids is progressing, with Liquibox acquisition performing well.

• Protective segment faces ongoing demand uncertainty, with cautious outlook for the remainder of the year and into 2025.

• Portfolio review underway to strengthen fiber-based and other protective solutions, aiming for better market adoption and competitive positioning.

• Shrink film, Autobag, and industrial inflatables are bright spots within the protective portfolio, showing double-digit growth.