Wambold Appointed President of Tenneco Packaging

Tenneco has named Richard Wambold president of Tenneco Packaging. Wambold had been executive vice president and general manager of the company's nearly $3 billion packaging business.

The 47-year-old Wambold has directed all aspects of the company's specialty and consumer products businesses. Tenneco's specialty packaging business has grown from $555 million in sales in 1995 to $2.8 billion in 1998. The business expects to post sales of $3 billion in 1999.

Tenneco announced April 29 the separation of its automotive and packaging businesses into two independent companies. The transaction will involve a spinoff to Tenneco shareowners, creating a new packaging company and an automotive parts company with expected 1999 sales of $3 billion and $3.2 billion, respectively. The action will effectively complete the final phase of restructuring that Tenneco announced in 1998 and the corporate transformation that started in 1992.

When the separation occurs, the new packaging business will be among the most diversified specialty packaging companies in the world, making and selling products for the foodservice, consumer, protective, flexible and institutional/industrial markets.

Wambold joined Tenneco in 1977 and Tenneco Packaging in 1994. He became executive vice president of specialty and consumer packaging in May 1997, after three years as senior vice president and general manager of specialty products.