Avery Dennison Corp. on Tuesday announced the promotion of Mitchell Butier to chief financial officer, effective June 1.
Butier, who will also hold the title of senior vice president, has been the Pasadena label maker’s chief accounting officer and corporate vice president for global finance since March 2007. Butier, 38, joined Avery Dennison from PricewaterhouseCoopers in 2000.
He succeeds Daniel O’Bryant, who has been named executive vice president for business development, a new position. O’Bryant, 53, has been with the company for 20 years and CFO since January 2001.
“Mitch is a seasoned finance executive and a strong leader, and the board of directors and I are delighted to welcome him to the CFO role,” said Chief Executive Dean A. Scarborough in a statement. “He has served in senior finance roles in all of our major businesses and in the United States and Europe, and is already a member of the company’s corporate leadership team. His promotion is the logical next step in our succession plans.”
Lori Bondar, vice president and controller, will succeed Butier as chief accounting officer. Bondar, 49, joined Avery Dennison in April 2008 as vice president and controller.
Shares were down 70 cents, or 2 percent, to $33.25 in midday trading on the New York Stock Exchange.