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|Owens-Illinois, Inc.: O-I Announces Two New Board Members and New Independent Chairman|
FOR IMMEDIATE RELEASE
O-I Announces Two New Board Members and New Independent Chairman
PERRYSBURG, Ohio (May 26, 2016) - Owens-Illinois, Inc. (NYSE: OI), announced today the election of Andres A. Lopez and Joseph J. DeAngelo to its Board of Directors.
Lopez, a 30-year veteran of O-I, has been serving as the company's Chief Executive Officer since January 2016. Since joining the company's Colombia office in 1986, Lopez has held increasingly senior positions, including Country General Manager in Peru; Vice President of Manufacturing for O-I North America; Global Vice President of Manufacturing and Engineering; President of O-I South America; President of O-I Americas; and, most recently, Chief Operating Officer.
DeAngelo is the Chairman, President and Chief Executive Officer of HD Supply Holdings, Inc., one of the largest industrial distributors in North America. Previously, DeAngelo served as Chief Operating Officer of The Home Depot, Inc., and held leadership roles at Stanley Black & Decker, Inc., and General Electric Company.
Former Board Members Thomas L. Young, who reached the mandatory retirement age for Board Members, and Albert P.L. Stroucken, who retired as CEO and President at the end of 2015, did not stand for reelection.
"On behalf of the Board of Directors and our management team, I want to thank Tom and Al for their leadership, effort and support throughout their tenure on the Board. We greatly appreciate their many years of dedication and strong partnership," said Lopez. "We also look forward to working with Joe, a proven leader who brings impressive business and industry experience that is highly relevant to O-I's future plans and opportunities."
The company also announced today the appointment of Carol A. Williams as Chairman of the Board, effective immediately. Williams takes on this new role following the expiration of the Board term of Stroucken, who continued to serve as Executive Chairman following his retirement as CEO.
Before retiring in 2015, Williams enjoyed a 34 year career at Dow Chemical, holding a number of increasingly significant positions in Research and Development and Operations before serving as the Executive Vice President of Manufacturing and Engineering, Supply Chain and Environmental, Health and Safety Operations. She most recently served as the Special Advisor to the Chief Executive Officer of Dow. Williams holds a bachelor's degree in chemical engineering from Carnegie Mellon University and serves on the university's Board of Trustees. She has been a member of O-I's Board of Directors since February 2014, serving on the Compensation and Risk Oversight committees.
"Carol has made significant contributions to our Board over the last two years, including her active engagement in helping set the company's future direction. Her extensive experience in successful transformations will continue to serve O-I well as we execute the plan recently shared at our Investor Day," said Lopez. "I look forward to working with her in her new capacity as our Board Chair."
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 $6.2 billion in 2015 and employs 27,000 people at 80 plants in 23 countries. With global headquarters in Perrysburg, Ohio, O-I delivers safe, sustainable, pure, iconic, brand-building glass packaging to a growing global marketplace. For more information, visit o-i.com.