Sonoco Announces Changes to Board of Directors

Sonoco (NYSE: SON), one of the largest global sustainable packaging companies, today announced that two members of the Company’s Board of Directors will be leaving.

Marc D. Oken, 75, chairman and founder of Falfurrias Capital Partners, a Charlotte, N.C., private equity firm, has reached the Board’s mandatory retirement age and will not stand for reelection at the Company’s 2022 Annual General Meeting. Oken joined the board in 2006 and serves on the Company’s Executive Committee as well as the Executive Compensation, Audit and Corporate Governance and Nominating committees.

In addition, Lloyd M. Yates, 61, who was recently named President and Chief Executive Officer of NiSource, Inc. (NYSE: NI), a Merrillville, IN, energy holding company, extended his resignation to Sonoco’s Board, effective March 1, 2022. Yates served on Sonoco’s Board since 2019 and is a member of Audit, Financial Policy and Employee and Public Responsibility committees. Yate’s resignation was not the result of any disagreement between Yates and the Company, its management, board of directors or any committee thereof, or with respect to any matter relating to the Company’s operation, policies or practices.

“We want to thank Marc and Lloyd for the time, dedication and contributions made in support of Sonoco and the Board,” said John R. Haley, Sonoco’s Chairman of the Board. With these changes the Company expects to nominate 12 directors for reelection at its annual meeting.
https://investor.sonoco.com/news-releases/news-release-details/sonoco-announces-changes-board-directors

Related Posts

Metsä Board to modernise Simpele board mill

Metsä Board, part of Metsä Group, has made an investment decision to renew the folding boxboard machine at Simpele, which will improve the quality of folding boxboard and increase production efficiency. The investment will enable the replacement of fossil fuels in paperboard production, and supports Metsä Board's target of fossil free production at all its mills by the end of 2030. The renewal will increase the mill's production capacity by around 10,000 tonnes, which will bring the annual production capacity of Simpele folding boxboard to around 310,000 tonnes. The Simpele mill produces high quality lightweight folding boxboard, mainly for food and pharmaceutical packaging. The investment will start immediately and is expected to be completed in the second half of 2025. The investment value is approximately EUR 60 million, divided over the period 2024–2026.

Stora Enso’s pellet packaging wins global Worldstar design award

Stora Enso’s design for eco-friendly pellet packaging was awarded with a prestigious Worldstar award. The renewable and recyclable packaging is designed for heavy use in transporting and warehousing of wood pellets for heating. The awarded packaging is a sustainable alternative to the standard plastic bag used in the pellet industry. In the packaging design work, special attention was paid to usability, recyclability and visual appearance. The 12 kg pellet box, which replaces a plastic bag, is easy to bring home from the store thanks to the carrying handle. The packaging is a collaboration between Finnish packaging designer Karoliina Pennanen and the Stora Enso Packaging Automation team.

Berry Global to Supply Medicom in Support of British Government’s Mask Manufacturing Mandate

Berry Global Group, Inc. announced its collaboration with The Medicom Group, (Medicom), to design the manufacturing solution and guarantee the supply of nonwoven fabric intended for use in producing hundreds of millions of face masks annually as part of Medicom’s agreement with the British Government. Medicom is one of the world’s leading manufacturers of medical and respiratory masks. To do so, Berry is investing in a new state-of-the-art meltblown nonwovens line, to be outfitted with its proprietary charging technology, at one of its UK based facilities to increase capacity of material necessary in the production of European-standard Type IIR and N99-equivalent FFP3 masks. The masks will be manufactured and sold under Medicom’s European Kolmi brand.
Back To Top
×Close search
Search