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Checkpoint appoints Jeff Richard as Executive VP
11
May '13
Checkpoint Systems, Inc. announced the appointment of Jeff Richard as Executive Vice President and Chief Financial Officer, effective May 28, 2013. Mr. Richard will replace Raymond D. Andrews who is retiring from Checkpoint on July 31, 2013. Mr. Andrews will remain with the Company in the interim to ensure an orderly transition of responsibilities.

Mr. Richard, age 45, has extensive financial leadership experience, most recently serving as Executive Vice President and Chief Financial Officer at Safety-Kleen Systems, Inc, a $1.5 billion environmental services company, from 2010 to 2013. At Safety-Kleen, Mr. Richard led a broad set of turnaround initiatives to drive profitable, sustainable growth, which significantly improved operational performance and equity value. He recapitalized the company and led a dual-path liquidity IPO and sale plan that concluded with the sale of Safety-Kleen to the company’s largest competitor in December 2012.

From 2006 to 2010, Mr. Richard served as Chief Operating Officer and Chief Financial Officer at Pavestone Company, where he successfully guided the company through the economic downturn and housing market collapse, focusing on gaining market share and cost take-out, while building strong relationships with customers, the banking and private equity community and vendors.

Previously, Mr. Richard was Vice President of Financial Planning & Analysis at Electronic Data Systems Corp. and Chief Financial Officer and Vice President of Americas Operations at Jacuzzi Brands, Inc. Earlier in his career he worked in a variety of financial positions at Tyco International Ltd., ultimately serving as Chief Financial Officer for Tyco’s $2.2 billion Plastics & Adhesives segment, where he was responsible for all segment financial and control functions including consolidation, financial reporting, tax, treasury and investor relations. Mr. Richard has a bachelor’s degree in business administration from Louisiana State University.

Checkpoint’s President and Chief Executive Officer, George Babich, said, “We are delighted to have attracted Jeff to join the Checkpoint team and we welcome him. He is a strong financial and operational executive with outstanding leadership experience. His track record of revitalizing businesses, positioning them for sustainable, profitable growth is impressive and I look forward to working with him as we continue to identify opportunities to increase shareholder value at Checkpoint.

“We sincerely thank Ray Andrews for his many contributions, particularly in the past two years of intense organizational change and turnaround activity. Ray has been a valuable member of Checkpoint’s leadership team since 2007, and we extend best wishes for his retirement.”

Checkpoint Systems


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