Amcor internally appoints new COO
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The news: Amcor has appointed the president of Amcor Flexibles North America, Fred Stephan, as the global packaging group's new chief operating officer, effective immediately.
The numbers: In Amcor's newly created role of COO, Stephan will receive an annual base salary of USD1.15 million ($1.71 million), plus a management incentive plan (MIP). He will also continue to participate in Amcor's equity management incentive plan.
The context: Amcor said Stephan will report to the chief executive and will be responsible for enhancing the company's ability to leverage and accelerate profitable growth opportunities across the global flexible packaging businesses, ensuring coordinated execution between business operations and commercial teams.
Stephan has been in his current role since joining Amcor in 2019 through the acquisition of US-based Bemis Company, where he was president of Bemis North America.
From 2004 to 2017, Stephan served in senior roles at Johns Manville, a Berkshire Hathaway company, after five years at General Electric.
Meanwhile, David Clark, previously Amcor's vice president for sustainability, has been appointed to the newly created chief sustainability officer role.
On Thursday, Amcor appointed interim CEO Peter Konieczny as its permanent chief executive, succeeding Ron Delia who stepped down in April after nine years in the role.
What they said: "At this stage in the company’s evolution, we have a valuable opportunity to accelerate organic growth by leveraging our global footprint and scale more effectively," said Konieczny.
“By introducing the chief operating officer role, we are evolving our organisation structure to help facilitate greater collaboration and drive faster growth across our flexibles business."
The source: Amcor media release
