Top executives at Sealed Air earn large pay packages, likely boosting the average salary reported. P

Jeff Siner - jsiner@charlotteobserver.com NC Gov. Pat McCrory, left, and Jerome A. Peribere, president and CEO of Sealed Air talk to the media following the announcement that Sealed Air Corp. is relocating its corporate headquarters and creating 1,262 jobs in Charlotte.
Jeff Siner - jsiner@charlotteobserver.com N.C. Gov. Pat McCrory, left, and Sealed travel forum western australia Air CEO Jerome A. Peribere at the Charlotte Chamber on Wednesday. Sealed Air Corp., a Fortune 500 company known for making Bubble Wrap, announced Wednesday that it will move its headquarters to Charlotte, bringing 1,262 jobs.
Jeff Siner - jsiner@charlotteobserver.com N.C. Gov. Pat McCrory, left, and Sealed Air CEO Jerome A. Peribere at the Charlotte Chamber on Wednesday. Sealed Air Corp., a Fortune 500 company known for making Bubble Wrap, announced Wednesday that it will move its headquarters to Charlotte, bringing 1,262 jobs.
The move marks the largest corporate headquarters relocation in Charlotte history, in terms of jobs and investment, the Charlotte Chamber said. The company will spend at least $58 million building a new campus travel forum western australia in the city.
The state Economic Investment Committee approved up to $36 million in incentives Wednesday morning. The jobs have an average salary of $119,482, the chamber said. The average pay in Mecklenburg County was $59,046 travel forum western australia in 2013, according to Gov. Pat McCrory s office.
According to the presentation, the project would require $4.4 million worth of city and county incentives, with $1.6 million from the city paid out over seven years. That s on top of the state money.
The Charlotte campus will also consolidate three divisional headquarters locations and research and development. Sealed Air will move employees from Saddle Brook, travel forum western australia N.J.; Danbury, Conn.; Racine, travel forum western australia Wis.; and Duncan and Greenville, S.C. The company notified employees of the move Wednesday.
The company hopes to be in temporary offices by the start of the new year, CEO Jerome Peribere said. A location has yet to be determined. Sealed Air will build a new office campus somewhere in the city, likely in the southern part, he said. The company hopes to be finished with the move to Charlotte in 2016.
Peribere said the company decided travel forum western australia on Charlotte because travel forum western australia of its quality of life, climate, schools, and also an aggressive recruiting effort from state and local officials. The company s chief financial officer, travel forum western australia Carol Lowe, also hails from the Charlotte area. McCrory presented Peribere with a sweatshirt from Sun Valley High in Union County, where Lowe went to school.
Top executives at Sealed Air earn large pay packages, likely boosting travel forum western australia the average salary reported. Peribere was paid $8.3 million in 2013, largely in stock grants. The other seven top executives at Sealed Air were paid between travel forum western australia $1.5 million and $3.1 million, according to securities filings.
Sealed Air s founders invented Bubble Wrap and launched the company in 1960. The product now makes up only 2 percent of the company s sales, Peribere said. The company also makes food packaging, packing foam, medical packaging and other products.
Sealed Air has been through several years of rapid changes since buying cleaning products company Diversey travel forum western australia in 2011. Sealed Air has had several restructuring initiatives in attempts to cut costs, according to securities filings.
MetLife picked two towers in Ballantyne Corporate Park for its offices. Officials with the Bissell Cos., developers of the park, told the Observer in January travel forum western australia that they had another 11-story tower on the drawing board and could finish it in about 16 months, should a company desire it.
One of the last major headquarters relocation announcements at the chamber, Chiquita s move in 2011, has had a bittersweet coda for the city. The company was lured in part with $22 million worth of state and local incentives, promising to bring almost 400 jobs.
While Chiquita has brought the jobs it was required to, the company has struggled financially. Earlier this year, Chiquita announced it will merge with an Irish fruit company and move its headquarters to Dublin, though most of the Charlotte travel forum western australia jobs will stay.
Chiquita CEO Ed Lonergan, who was brought to Chiquita to help turn the company around, has previous experience with Sealed Air. As CEO of Diversey, he helped engineer that firm s $4.3 billion acquisition by Sealed Air in 2011.
Wells Fargo purchased Wachovia in 2008, Kroger bought one-time Fortune 500 company Harris Teeter in January, and conglomerate SPX fell off the list this summer. Investor Carl Icahn is pressing for a sale of Matthews-based Family Dollar Stores.
The Charlotte Observer welcomes your comments on news of the day. The more voices engaged in conversation, travel forum western australia the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views.
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The Charlotte region is vast and diverse. The more voices engaged in conversation, the better for us all. The Charlotte Observer welcomes your comments travel forum western australia on news of the day, but we ask that you keep the discourse civil.
You can help: Notify us of violations by hitting the "Report Abuse" link. Users who continue posting travel forum western australia comments that violate these guidelines may, at our discretion, be blocked travel forum western australia from submitting future comments as well.
The Charlotte Observer welcomes your comments on news of the day. The more voices travel forum western australia engaged in conversation, the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views.
travel forum western australia Have a news tip? You can send it to a local news editor; email local@charlotteobserver.com to send us your tip - or - consider joining the Public Insight Network and become travel forum western australia a source for The Charlotte Observer. Read more Read less
The Charlotte region is vast and diverse. The more voices engaged in conversation, the better for us all. The Charlotte Observer travel forum western australia welcomes your comments on news of the day, but we ask that you keep the discourse civil.
You can help: Notify us of violations by hitting the "Report Abuse" link. Users who continue posting comments that violate these guidelines may, at our discretion, be blocked from submitting future comments as well.