Andres Lopez Named Chief Executive Officer of O-I
October 20 2015 - 4:10PM
FOR IMMEDIATE
RELEASE
For more information,
contact:
David
Johnson |
Kristin
Kelley |
Vice
President, Investor Relations |
Vice
President, Corporate Communications |
Perrysburg, Ohio, U.S. |
Perrysburg, Ohio, U.S. |
567 336
2600 |
567 336
2395 |
dave.johnson@o-i.com |
kristin.kelley@o-i.com |
Andres Lopez Named Chief Executive Officer of
O-I
Perrysburg, Ohio (Oct. 20, 2015) - Owens-Illinois,
Inc. (NYSE: OI) announced today that it has named Andres Lopez
Chief Executive Officer of O-I, effective Jan. 1, 2016. O-I's Board
of Directors affirmed Lopez's appointment at its October board
meeting, marking the final step in the CEO succession
process.
Current Chairman and CEO Al Stroucken will retain
the role of Executive Chairman of the Board as of Jan. 1, 2016,
until the annual shareholder meeting in May 2016.
As chief operating officer of the company, Lopez
has been responsible for O-I's business and operations in all of
the company's geographic regions. He led the negotiations resulting
in the recent $2.15 billion acquisition of Vitro's food and
beverage business in Mexico, Bolivia and the U.S. Lopez's deep
knowledge of the glass industry and his strong commitment to
transformational change will help O-I create sustainable value for
shareholders, customers, employees and other key stakeholder
groups.
Lopez joined O-I in 1986 in Colombia and has held
several leadership positions, including country general manager in
Peru; vice president of manufacturing for O-I North America; and
global vice president of manufacturing and engineering. From 2009
to 2014, he served as president of O-I South America. Under Lopez's
leadership, the region increased segment operating income and cash
generation through revenue growth, operational performance
improvement, asset optimization and spending reduction. The region
also successfully integrated several acquisitions.
In 2014, Lopez was named president of O-I
Americas, adding responsibility for O-I's North American
operations, where he launched initiatives to improve safety,
operational and commercial performance, and cost competitiveness.
He was named chief operating officer in February 2015.
2
"Over the last year Andres and I have worked
closely together to transition all responsibilities for the
company," said Stroucken. "The Board is confident that Andres'
passion and his strategic vision for the company will propel O-I
successfully into the future."
# # #
About O-I
Owens-Illinois, Inc. (NYSE: OI) is the world's largest glass
container manufacturer and preferred partner for many of the
world's leading food and beverage brands. The Company had revenues
of $6.8 billion in 2014. Following the acquisition of Vitro's food
and beverage business, the company now employs approximately 27,000
people at 81 plants in 23 countries. With global headquarters in
Perrysburg, Ohio, USA, O-I delivers safe, sustainable, pure,
iconic, brand-building glass packaging to a growing global
marketplace. For more information, visit o-i.com.
O-I's Glass Is Life(TM) movement promotes the
widespread benefits of glass packaging in key markets around the
globe. Learn more about the reasons to choose glass and join the
movement at glassislife.com.
O-I Logo
Andres Lopez Named CEO O-I
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Owens-Illinois, Inc. via Globenewswire
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