Mon Sep 23 21:15:51 UTC 2024: ## Reynolds Consumer Products Appoints New Chairman, Reports Strong Q2 Earnings

**Reynolds Consumer Products Inc. (NASDAQ:REYN)** has announced the appointment of Rolf Stangl as non-executive Chairman of the Board, effective immediately. Stangl, a seasoned executive with experience in corporate development and strategy consulting, succeeds Richard Noll who resigned from the position on September 18th.

Stangl joins Reynolds from Pactiv Evergreen Inc. where he served as an independent member of the Board since 2020. His extensive experience, particularly as CEO of SIG Group AG from 2008 to 2020, is expected to provide valuable insights to the company.

The appointment comes on the heels of a strong second quarter for Reynolds, where the company reported record earnings and exceeded revenue projections. This performance prompted an upward revision in its full-year revenue outlook, despite challenges anticipated in the fourth quarter due to increased aluminum costs and lower production levels.

Analysts remain optimistic about Reynolds’ future. Jefferies initiated coverage on the company with a “Buy” rating and a price target of $38.00, citing strong market position and potential benefits from weaker Away-From-Home trends. RBC Capital also raised its price target from $31.00 to $32.00, acknowledging the company’s successful navigation of economic pressures and its ability to deliver significant profitability enhancements.

Reynolds remains focused on sustainable product offerings and effective pricing strategies, demonstrating resilience in the face of market challenges. The company expects net revenue between $3.530 billion and $3.640 billion, with an adjusted EBITDA in the range of $660 million to $680 million.

With Stangl’s appointment and the company’s strong financial performance, Reynolds Consumer Products continues to position itself for continued success in the consumer goods industry.

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