Banta Names Streeter President and CEO; Belcher to Continue as Chairman
Press release from the issuing company
MENASHA, Wis., Aug. 28 -- Banta Corporation today announced that Stephanie A. Streeter has been named President and Chief Executive Officer, effective October 1, 2002. Current Banta Chairman and CEO, Donald D. Belcher, will continue as Chairman of the Board until his retirement in April 2004. Ms. Streeter, 44, has served as President and Chief Operating Officer since January 2001, and was elected to the Banta Board of Directors in July of 2001.
Belcher said, "Today's announcement reflects the planned implementation of an orderly executive leadership transition that has been underway for the past two years. Since Stephanie joined Banta in January 2001, she has done an outstanding job of guiding our global operations through a very challenging economic period. Her leadership strength, fiscal discipline and commitment to Banta's growth strategy have contributed significantly to the Corporation's strong operating performance."
Belcher, 63, has served as Banta's Chief Executive Officer for nearly eight years. He joined the Corporation in September 1994 as President and Chief Operating Officer, and was appointed CEO in January of 1995. "Banta is strong strategically, operationally and financially. It is a terrific company, driven by a commitment to integrity and a passion for its customers. For me, it is a great privilege to work with what I believe is the most talented management team in our industry," notes Belcher. "Management development and succession planning are critical and key ingredients in Banta's continuing success. I am very proud of our leadership team and especially our new CEO."
Streeter adds, "Banta is solidly positioned to maximize growth in all of its markets. Under Don's leadership, Banta has become a multidimensional industry leader, significantly strengthening its presence in the print sector, while rapidly expanding its supply-chain management business on a worldwide scale. His legacy of strategic vision, talent development and global expansion has given us a great platform to build on. I am very pleased that as Chairman, Don will bring counsel, continuity, and support for me and the entire leadership team until his retirement in 2004. I look forward to continuing to benefit from his deep experience and mentorship, as we accelerate Banta's growth and effectively drive the Corporation's forward strategy."
Streeter spent 15 years at global office products leader Avery Dennison. There she advanced from an assistant product manager through progressively senior roles of increasing scope and responsibility, ultimately reaching the position of Group Vice President for Avery's Worldwide Office Products Group. Office Products was Avery's fastest growing and most profitable group with $1.4 billion in sales, 41 facilities and 6,500 employees around the world. Immediately prior to joining Banta, Streeter was Chief Operating Officer of idealab!, a Pasadena-based Internet company. Ms. Streeter is a graduate of Stanford University with a B.A. in Political Science.
Banta Corporation is a technology and market leader in printing and supply-chain management. Banta provides a comprehensive combination of printing and digital imaging solutions to leading publishers and direct marketers, including advanced digital content management and e-business services. Banta's global supply-chain management businesses provide a wide range of outsourcing capabilities to the world's largest technology companies. Services range from component procurement, product assembly and packaging to inventory control and global distribution.
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