Richard L. Wambold is chairman and chief executive officer of Pactiv Corporation. Pactiv was spun off from Tenneco, Inc. in November 1999. Prior to becoming CEO, Wambold was president of Tenneco Packaging since mid-1999 and managed the spin-off.
Formerly, Wambold was executive vice president and general manager of Tenneco Packaging's Specialty Packaging and Consumer Products business groups. Under his direction, those business groups grew from $550 million in sales in 1994 to $2 billion in 1998. Before joining Tenneco Packaging, Wambold was executive vice president of Case Corporation's construction equipment and worldwide parts business that was previously part of Tenneco. Wambold joined Tenneco in 1977 and has held numerous positions with the organization, including vice president of corporate planning and development.
He earned a Bachelor of Arts degree in government and a Masters of Business Administration from the University of Texas at Austin. Wambold serves on the board of Cooper Tire & Rubber Company. He is a member of The Business Roundtable and The Commercial Club of Chicago.