Former Banta chief S. Streeter lands CEO post at tableware maker Libbey Inc.

Date: 29 June 2011
Source: Libbey Inc.
Stephanie Streeter, former president and chief executive officer of Banta Corp., will take over as CEO of glass tableware maker Libbey Inc.

Aug. 1.

Libbey announced the appointment today. Streeter also will be elected to the company’s board of directors.

Libbey in a statement said Streeter brings a diverse background, having led consumer-facing, industrial manufacturing and service businesses.

Streeter also has a solid history of building world-class leadership teams that drive business success and innovation, the company said.

“I look forward to working with John (Meier, Libbey chairman and CEO) to achieve a seamless transition and I am excited to have the opportunity to drive the improving performance and cultural transition of the company,” Streeter said in a statement. “Profitably delivering quality and innovative products to our customers, continuing to reduce leverage and building shareholder value will be key priorities in the coming year.”

Streeter served as president CEO of Banta Corp. from 2002 to 2007.

In October 2006, Chicago-based printing giant R.R. Donnelley & Son Co. announced it was purchasing Banta Corp. for $1.3 billion. That deal closed in January 2007.

After the deal closed, Streeter received a termination package estimated at $8.3 million, according to U.S. Securities and Exchange Commission filings.

R.R. Donnelley employs about 1,500 people across its Fox Cities operations today.

Streeter served as interim CEO of the United States Olympic Committee from March 2009 to March 2010. She also serves on the boards of directors of the Goodyear Tire and Rubber Co., Kohl´s Corp., the Green Bay Packers and Catalyst, a premier non-profit group, which is working to expand opportunities for women in business.

Streeter will replace Meier who announced his retirement in February.

Libbey operates glass tableware manufacturing plants in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands.

Libbey’s net sales totaled $799.8 million in 2010.

600450 Former Banta chief S. Streeter lands CEO post at tableware maker Libbey Inc.

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