O-I Glass, Inc. (NYSE: O-I) (the “Company” or “O-I”) today
announced that Andres Lopez will retire as Chief Executive Officer,
effective May 15, 2024, following a nearly 40-year career with the
Company. The Board has been working with an executive search firm
to identify O-I’s next CEO as part of the Company’s long-term
succession planning process. Andres is committed to supporting a
seamless transition of responsibilities to his successor.
Andres joined O-I in 1986 and has held numerous
leadership positions across the Company’s global operations before
being named CEO in January 2016. Under his leadership, O-I has been
significantly transformed into a more capable, resilient, agile and
disciplined organization. Among other achievements, he successfully
led the completion of a business portfolio optimization program,
strengthened the balance sheet, delivered several inorganic and
organic expansion projects and integrated sustainability into the
business strategy. During his tenure, the Company has focused on
innovation, exemplified by initiatives such as the development of
its MAGMA and ULTRA technologies. This transformational journey has
enabled O-I to deliver strong financial results and lay the
foundation for long-term profitable growth.
“On behalf of the Board, I would like to thank
Andres for his vision, leadership and contributions to O-I during
his nearly four-decade tenure, including the last eight years as
CEO,” said John H. Walker, Independent Board Chair. “Andres has
played a critical role in strategically expanding O-I into key
global markets and transforming the business to be an innovation
leader. The Board is committed to identifying a leader to build on
this momentum and deliver future value creation for O-I customers
and shareholders. We look forward to continuing to work with Andres
as we complete the search process and wish him all the best in his
well-deserved retirement.”
“It has been a privilege to serve as CEO of O-I
for these past eight years and to work alongside such a talented
team for the entirety of my career,” said Andres. “We have made
significant progress on our transformational journey and are
well-positioned to meet the evolving requirements of the packaging
market and capitalize on emerging trends. Indeed, I am extremely
proud of what we have built together as we advance new standards in
sustainable glass manufacturing. O-I has a bright future and I
believe that breakthrough innovations like our MAGMA technology are
just the beginning.”
In connection with his retirement from the
Company, Andres will step down from the O-I Board of Directors at
the Company’s 2024 Annual Meeting of Stockholders to be held on May
15, 2024.
About O-I
At O-I Glass, Inc. (NYSE: OI), we love glass,
and we are proud to be one of the leading producers of glass
bottles and jars around the globe. Glass is not only beautiful, it
is also pure, healthy, and completely recyclable, making it the
most sustainable rigid packaging material. Headquartered in
Perrysburg, Ohio (USA), O-I is the preferred partner for many of
the world’s leading food and beverage brands. We innovate in line
with customers’ needs to create iconic packaging that builds brands
around the world. Led by our diverse team of approximately 23,000
people across 68 plants in 19 countries, O-I achieved revenues
of $7.1 billion in 2023. Learn more about us:
oi.com / Facebook / Twitter / Instagram / LinkedIn
Forward-Looking Statements
This press release contains “forward-looking” statements related
to O-I within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) and Section 27A of the
Securities Act of 1933, as amended. Forward-looking statements
reflect O-I’s current expectations and projections about future
events at the time, and thus involve uncertainty and risk. The
words “believe,” “expect,” “anticipate,” “will,” “could,” “would,”
“should,” “may,” “plan,” “estimate,” “intend,” “predict,”
“potential,” “continue,” and the negatives of these words and other
similar expressions generally identify forward-looking
statements.
It is possible that O-I’s future financial performance may
differ from expectations due to a variety of factors including, but
not limited to the following: (1) the general political, economic
and competitive conditions in markets and countries where O-I has
operations, including uncertainties related to economic and social
conditions, trade disputes, disruptions in the supply chain,
competitive pricing pressures, inflation or deflation, changes in
tax rates and laws, war, civil disturbance or acts of terrorism,
natural disasters, public health issues and weather, (2) cost and
availability of raw materials, labor, energy and transportation
(including impacts related to the current Ukraine-Russia and
Israel-Hamas conflicts and disruptions in supply of raw materials
caused by transportation delays), (3) competitive pressures,
consumer preferences for alternative forms of packaging or
consolidation among competitors and customers, (4) changes in
consumer preferences or customer inventory management practices,
(5) the continuing consolidation of O-I’s customer base, (6) O-I’s
ability to improve its glass melting technology, known as the MAGMA
program, and implement it within the timeframe expected, (7)
unanticipated supply chain and operational disruptions, including
higher capital spending, (8) seasonality of customer demand, (9)
the failure of O-I’s joint venture partners to meet their
obligations or commit additional capital to the joint venture, (10)
labor shortages, labor cost increases or strikes, (11) O-I’s
ability to acquire or divest businesses, acquire and expand plants,
integrate operations of acquired businesses and achieve expected
benefits from acquisitions, divestitures or expansions, (12) O-I’s
ability to generate sufficient future cash flows to ensure O-I’s
goodwill is not impaired, (13) any increases in the underfunded
status of O-I’s pension plans, (14) any failure or disruption of
O-I’s information technology, or those of third parties on which
O-I relies, or any cybersecurity or data privacy incidents
affecting O-I or its third-party service providers, (15) risks
related to O-I’s indebtedness or changes in capital availability or
cost, including interest rate fluctuations and the ability of O-I
to generate cash to service indebtedness and refinance debt on
favorable terms, (16) risks associated with operating in foreign
countries, (17) foreign currency fluctuations relative to the U.S.
dollar, (18) changes in tax laws or U.S. trade policies, (19) O-I’s
ability to comply with various environmental legal requirements,
(20) risks related to recycling and recycled content laws and
regulations, (21) risks related to climate-change and air
emissions, including related laws or regulations and increased ESG
scrutiny and changing expectations from stakeholders, (22) risks
related to our long-term succession planning process and the other
risk factors discussed in O-I's filings with the Securities and
Exchange Commission.
It is not possible to foresee or identify all such factors. Any
forward-looking statements in this document are based on certain
assumptions and analyses made by O-I in light of its experience and
perception of historical trends, current conditions, expected
future developments, and other factors it believes are appropriate
in the circumstances. Forward-looking statements are not a
guarantee of future performance and actual results or developments
may differ materially from expectations. While O-I continually
reviews trends and uncertainties affecting O-I’s results of
operations and financial condition, O-I does not assume any
obligation to update or supplement any particular forward-looking
statements contained in this document.
For more information, contact:Chris Manuel,
Vice President of Investor
Relations567-336-2600Chris.Manuel@o-i.com
Grafico Azioni OI Glass (NYSE:OI)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni OI Glass (NYSE:OI)
Storico
Da Giu 2023 a Giu 2024