Ahead of the Bell: Checkpoint Systems

Late Thursday Checkpoint said that Robert van der Merwe will become president and chief executive, effective immediately. He replaces George Off, who will remain chairman of the board.

"Mr. van der Merwe's experience in restructuring, mergers and acquisitions and international retail business operations should prove useful for Checkpoint," Thomas Weisel Partners analyst Ajit Pai said in a client note. "We positively view Mr. van der Merwe's appointment as it virtually completes the company's succession plan."

Van der Merwe most recently led Paxar Corp. and has held high-ranking positions at Kimberly-Clark Corp. and Xerox Corp.

Earlier this month, Checkpoint announced a new finance chief.

The stock closed Thursday at $22.71.

Checkpoint also reaffirmed its 2007 guidance for earnings of $1.65 to $1.75 per share. Analysts polled by Thomson Financial, on average, expect full-year earnings of $1.62 per share.

The guidance is more than Pai's forecast of earnings of $1.60 per share. He kept his $29 price target and "Market weight" rating.