Avery Dennison Board Elects Dean A.
Scarborough Chairman and Selects David E. I.
Pyott Lead Independent Director upon Kent
Kresa’s Retirement; Approves Governance
February 26, 2010 05:01 PM Eastern Time
PASADENA, Calif.--(EON: Enhanced Online News)--Avery Dennison Corporation (NYSE:AVY) announced
today that its board of directors has elected President and Chief Executive Officer Dean A. Scarborough to succeed
Kent Kresa as chairman of the board and selected Director David E. I. Pyott lead independent director. Pyott,
chairman and chief executive officer of Allergan, Inc., is one of 10 independent directors on Avery Dennison’s 12-
The changes will take effect upon Kresa’s retirement on April 22, 2010 at the annual shareholders meeting, in
accordance with Avery Dennison’s policy that directors retire at the age of 72. As chairman, Scarborough will
continue in his roles as president and chief executive officer.
The board also took action relating to three corporate governance matters: elimination of “supermajority” voting on
certain actions of the Company, which is to be submitted to shareholders for approval at the 2010 annual meeting;
declassification of the board’s structure, which will result in annual elections for all directors (to be submitted to
shareholders for approval at the 2011 annual meeting); and adoption of a bi-annual advisory shareholder vote on
executive compensation, commencing in 2011.
Avery Dennison Chairman Kent Kresa said, “In the five years that Dean Scarborough has been CEO, he has led
Avery Dennison’s global expansion and guided the Company during an exceptionally challenging recession. He has
built a strong management team and led the development and implementation of a sound strategy for future growth. I
have enjoyed working with Dean and my other fellow directors, and I am confident in the new leadership structure of
David Pyott said, “Kent Kresa has guided the Avery Dennison board with a steady hand, and we have benef