CEO Ron Delia plans to retire from Amcor next month for health reasons, the company announced after markets closed on Tuesday. Delia will also leave his position on the board of directors.
“It has been a privilege to serve as Amcor CEO for the last nine years and to work alongside such a committed, talented and experienced team. Together, we have created a stronger global packaging leader and laid the foundations for an exciting future as the business has substantial potential and is building near-term momentum,” Delia said in a news release.
Delia has been at Amcor since 2005 and held various positions, including CFO, prior to being appointed CEO in 2015. Before joining Amcor he was an associate principal at McKinsey & Company and held senior commercial roles in American National Can.
The board appointed Peter Konieczny, chief commercial officer since 2020, to serve as interim CEO, when Delia leaves on April 15. The board will search internally and externally for a permanent successor. Delia will stay in an advisory role until Sept. 15 to aid the transition.
“Peter has been a key member of the Company’s leadership team and a thought partner to Ron for many years,” Graeme Liebelt, board chairman, said in the release. “The Board is confident Peter is the right person to lead Amcor during the transition.”
Konieczny joined Amcor in 2010 and served in various positions including president of specialty cartons. Previously, he worked at Silgan and McKinsey & Company.
In the leadership change announcement, Amcor also reaffirmed its fiscal 2024 guidance that executives discussed in February during the company’s most recent earnings call, including free cash flow of approximately $850 million to $950 million. Amcor’s volumes were down in its fiscal second quarter, largely due to lower demand from both customers and consumers in key end markets. On the February call, Delia also discussed the company’s cost-cutting measures, such as reducing its employee count by about 2,000 people, 5% of the workforce, in the prior year.
