• Amcor has been recognised with an AA rating by MSCI ESG Research for its strong sustainability performance.
    Amcor has been recognised with an AA rating by MSCI ESG Research for its strong sustainability performance.
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The imminent US$13bn merger between Amcor and Berry Global will result in a new leadership set-up under CEO Peter Konieczny, for the business which will have 400 packaging plants and 75,000 staff.

The merger is due to complete mid-year, and represents another giant step on the journey for the company which started off as a paper mill on the banks of the Yarra in the 1860s. The merged company aims to be the global leader in consumer and healthcare packaging

The new leadership team will include Michael Casamento, who will be the chief financial officer, David Clark as chief sustainability officer, and Deborah Rasin, who will be general counsel. Tracey Whitehead will head the Investor Relations team, while Ian Wilson will lead the Strategy and Development efforts.

They join the trio of execs already revealed: Jean-Marc Galvez who will lead Global Containers & Closures; Fred Stephan, the former president of Beamis, who will be chief operating officer; and Susana Suarez Gonzalez, who has joined Amcor as chief human resources officer. In addition, Kirby Losch will lead the integration project organisation.

Three of the nine members of the new leadership team are Australians: Casamento, Whitehead and Wilson.

All nine will report directly to Konieczny. He said, “The combined talent, experience and acumen of our leaders will be an invaluable asset to the new Amcor, but the work to set all of us up for sustained success does not stop here. In addition to defining how our organization will operate, each appointed leader will now move to build their respective teams.”

Food & Drink Business

Global yoghurt company, Chobani, has completed a $1 billion (US$650 million) equity capital raise as it plans to expand its manufacturing operations in the US. The raise was advised by law firm Gibson Dunn.

Treasury Wine Estates (TWE) says it is not in a position to revise its guidance for FY16 due to lower-than-expected performance in China and distribution issues in California. The company said it was unlikely to meet FY26 depletion targets for Penfolds in China.

For more than 35 years, family-owned producer, Gourmet Dairy Co., has been manufacturing sauces, dairy and non-dairy products under its own brands and as a contract manufacturer for some of Australia’s most recognised labels. Now, the company is investing more than $1 million to expand its production capabilities and support new product innovation.