Appvion CFO Ferree to Retire; Kelly Named to Succeed Him

Appvion Inc., Appleton, Wis., USA, this week announced that Tom Ferree, the company's CFO for the past 10 years, will retire from Appvion on June 30, 2017. As part of the planned transition, Luke Kelly will succeed Ferree and serve as VP of finance and CFO. Kelly, who is currently Appvion's corporate controller, will report to Kevin Gilligan, Appvion's CEO. 

"During more than a decade of service to our company, Tom Ferree has distinguished himself as a skillful financial strategist, leader, and communicator who understands the unique challenges of managing an employee-owned company," Gilligan said.  "We are grateful for Tom's talent, wisdom, and determination in helping our company succeed, and we wish him all the best in his retirement."

 

Gilligan added that Kelly's broad and global financial background, combined with his leadership skills, positions him well to make a smooth transition to CFO. "Luke's career experience and his knowledge of our company will enable him to continue our legacy of strong financial leadership as we execute our strategic plan for the company."   

Kelly joined Appvion as corporate controller in March 2016 following 16 years of progressive financial management experience with The Manitowoc Co., a $3.4 billion multi-industry, capital goods manufacturer with manufacturing, distribution, and service facilities in 20 countries. Kelly served as SVP of finance and IT for the company's $1.7 billion foodservice segment. Prior to that, he served as VP of finance for the Lattice Crawler Crane & Crane Care product lines. 

Kelly's career at The Manitowoc Co. included other senior level financial positions including global controller, financial and project leader for ERP implementation, Sarbanes & Oxley Act implementation leader, and financial planning and analysis manager. Prior to joining The Manitowoc Co., Kelly held financial management positions with a division of Case/New Holland Corp. and with Nestlé Foods USA. Kelly earned a master's degree in business administration from Marquette University and a bachelor's degree in business administration/accounting from St. Norbert College in De Pere, Wis. He is a certified public accountant (CPA), a chartered global management accountant (CGMA), and a Six Sigma Black Belt. 

Appvion creates product solutions through its development and use of coating formulations and applications. The company produces thermal, carbonless, security, inkjet, digital specialty, and colored papers. Appvion has manufacturing operations in Wisconsin, Ohio, and Pennsylvania, employs approximately 1,400 people, and is 100% employee owned.