Avery Dennison CEO Assumes Chairmanship

Avery Dennison Corp.’s Chief Executive Mitch Butier has been chosen as the new chairman of the board at the label and packaging material manufacturer. The Glendale company’s current chairman Dean Scarborough informed the board that he will not stand for reelection. Scarborough leaves the board after nine years as chairman; he served as chief executive from 2005 to 2016. The transition will be effective April 25, after the company’s annual shareholders meeting. “I’m honored to be elected chairman,” Butier said in a statement. “I look forward to working with the board to continue creating long-term value for our employees, customers, shareholders and communities.” The company announced the change Friday. Shares of Avery Dennison (AVY) closed Monday down 32 cents, or a fraction of a percent, to $109.39 on the New York Stock Exchange.