Smurfit to take helm at packaging group

Packaging group Smurfit Kappa has appointed Tony Smurfit as chief executive-designate to take over in August when Gary McGann retires after 13 years as CEO.

Smurfit, whose father, Michael, was chief executive of the company before McGann, has been chief operations officer since 2002 and has worked in various parts of the business in Europe and the US since being appointed a director in 1989.

Earnings before interest, tax, depreciation and amortisation declined to €266m in the opening quarter despite revenue climbing 2% to more than €1.9bn.