Richard L. Wambold is chairman and chief executive officer of Pactiv Corporation. Wambold was appointed CEO in November 1999 when Pactiv became an independent company following its spin-off from Tenneco, Inc. In March 2000 he was elected to the additional post of chairman of the board. Prior to becoming CEO, Wambold served as president of Tenneco Packaging since June 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 in 1994, Wambold was executive vice president of Tenneco owned J.I. Case Corporation’s construction equipment and worldwide parts business. Wambold joined Tenneco in 1977 and has held numerous positions within 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 and is chairman of the compensation committee of Cooper Tire & Rubber Company. He also serves on the board and nominating and corporate governance committee of Precision Castparts Corporation. He is a member of The Business Roundtable and The Commercial Club of Chicago.