EVANSVILLE, Ind.--(BUSINESS WIRE)--The Board of Directors of Berry Plastics Group, Inc. (NYSE: BERY) announced today that it has unanimously elected Thomas E. (Tom) Salmon as the Company’s Chief Executive Officer and appointed him to the Board of Directors, effective February 3, 2017. Salmon, who most recently served as the Company’s President and Chief Operating Officer, succeeds Jonathan D. (Jon) Rich whose previously announced plans to retire as Berry’s CEO become effective February 3, 2017. Rich will continue as the Executive Chairman of Berry’s Board.
“Berry has thrived under Jon’s leadership. During his tenure, the Company completed 12 acquisitions, expanded its product offering and geographic footprint, became a public company whose share price has more than tripled since the IPO, and grew revenue by over $2 billion,” said Ronald S. (Ron) Rolfe, Chairman of the Nominating and Governance Committee of the Board of Berry Plastics. “I commend Jon for his leadership and for ensuring that Berry had a sound succession plan in place. Tom is a well-respected leader, and I look forward to working with him in his new role.”
“Berry has extremely talented and dedicated employees, and it has been a privilege to serve as the Company’s CEO for the past six years,” said Rich. “The time is now right to pass the baton to the next generation, and I congratulate Tom on his election to the CEO role. I look forward to continuing my role with the Company as Executive Chairman and working with the Berry team, as they take the Company to the next level.”
Salmon added, “Berry’s past has been filled with great leaders who had a clear focus on creating a solid future for the Company. It is an honor for me to succeed them. Going forward, we will continue to strategically advance the Company by ensuring we produce quality products in the global locations desired by our customers, that our culture provides a safe and rewarding atmosphere for our team members, and that we continue to achieve strong results for our shareholders.”
Salmon, age 53, joined the Company in 2007 with Berry’s acquisition of Covalence Specialty Materials, where he led the Adhesives Division for four years. From 2007-14, he served as President of Berry’s Engineered Materials Division, prior to being appointed President of Berry’s Rigid Closed Top Division in 2014 and President of Berry’s Consumer Packaging Division in 2015. Before joining Covalence, Salmon was General Manager of Honeywell Plastics and Global Sales Director for Allied Signal’s Engineering Plastics and Films. He began his career with General Electric and held a variety of commercial positions during his 12 years in GE’s Plastics and Lighting divisions.
Rich, age 61, has been the Company’s Chairman and Chief Executive Officer since October 2010. Prior to this role, Rich served as President and Chief Executive Officer of Momentive Performance Materials, Inc. Prior to Momentive, he held executive positions at Goodyear Tire and Rubber, including President of Goodyear North American Tire and President of Goodyear Chemical. Rich began his career at General Electric in 1982, where he was employed for nearly 18 years in a variety of R&D, operational and executive roles.
About Berry Plastics
Berry Plastics Group, Inc. is a leading provider of value-added plastic consumer packaging, nonwoven specialty materials, and engineered materials delivering high-quality customized solutions to our customers. The Company’s world headquarters is located in Evansville, Indiana, with net sales of $6.5 billion in fiscal 2016 and is listed on the New York Stock Exchange under the ticker symbol BERY. For additional information, visit the Company’s website at www.berryplastics.com.
Certain statements and information included in this release may constitute "forward looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Berry to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations is contained in the company’s Securities and Exchange Commission (“SEC”) filings, including Berry’s Annual Report on Form 10-K filed with the SEC on November 30, 2016 and the registration statement on Form S-4 (File No. 333-213803), as amended and supplemented, that Berry filed with the SEC in connection with its acquisition of AEP. Berry does not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.