- After around eight years in the position
- Praise, thanks and good wishes for Lopez
- Search for a successor
- Lopez said 95 words
(exechange) — Perrysburg, Ohio, March 6, 2024 — Andres Lopez, chief executive of O-I Glass, leaves his position. As announced by O-I Glass Inc. in a news release and in a regulatory filing published on Wednesday, March 6, 2024, Andres A. Lopez leaves his post as chief executive officer at the glass bottle manufacturer, after around eight years in the role, effective May 15, 2024.
O-I Glass will undertake a search for a successor.
No reason given
In the announcement, O-I Glass did not explicitly explain the reason for the move.
Precise information regarding Andres Lopez’s future plans was not immediately available.
“Retire”
O-I Glass said: “Andres Lopez will retire as Chief Executive Officer, effective May 15, 2024, following a nearly 40-year career with the Company.”
O-I Glass further said: “On March 6, 2024, Andres Lopez notified the Board of Directors (the “Board”) of O-I Glass, Inc. (the “Company”) of his intention to retire from his role as President and Chief Executive Officer of the Company and that he will step down from the Board, each effective at the Company’s annual meeting of stockholders to be held on May 15, 2024.”
“Not the result of any disagreement”
O-I Glass stated, regarding the change: “Mr. Lopez’s retirement is not the result of any disagreement between Mr. Lopez and the Company on any matter relating to the operations, policies or practices of the Company.”
Share price decline since March 2023
The announcement follows a decline in O-I Glass Inc.’s share price of 25% since March 2023.
In the position of CEO since 2016
Andres Lopez became CEO of the Company in 2016.
In connection with his retirement from the Company, Lopez will step down from the O-I Board of Directors at the Company’s 2024 Annual Meeting of Stockholders to be held on May 15, 2024.
Lopez has served as the President and Chief Executive Officer of O-I Glass since January 2016.
He has been with the Company since 1986 and held several positions before becoming Chief Executive Officer, most recently serving as Chief Operating Officer (2015).
He has also served as President of O-I Americas (2014-2015); President of O-I’s Latin America operations (2009-2015); and Vice President of O-I’s global manufacturing and engineering business unit (GMEC) (2006-2009).
In 2004, he moved to the Company’s headquarters in Ohio to serve as Vice President of Finance and Administration for the North America region, becoming Vice President of Manufacturing for North America in 2005.
Lopez held a number of other manufacturing assignments before 2005.
In 1996, he moved to Brazil, first serving as Plant Manager for the Rio de Janeiro plant, and then for the São Paulo plant.
In 1999, he was named General Manager of O-I Peru. Lopez began his career at O-I Glass as an Engineer at one of the Colombian plants.
Lopez currently serves as a board member of Avery Dennison (since 2017).
He holds a B.S. in production engineering from EAFIT University in Medellin, Colombia, and has completed the Executive Program at Stanford University.
He speaks English and Portuguese, in addition to his native Spanish.
95 words by Andres Lopez
In the release announcing his departure as CEO of O-I Glass Inc., Andres Lopez received praise, thanks and good wishes.
In announcing his departure, Andres Lopez said 95 words.
“Transformational journey”
Andres Lopez stated: “It has been a privilege to serve as CEO of O-I for these past eight years and to work alongside such a talented team for the entirety of my career. We have made significant progress on our transformational journey and are well-positioned to meet the evolving requirements of the packaging market and capitalize on emerging trends. Indeed, I am extremely proud of what we have built together as we advance new standards in sustainable glass manufacturing. O-I has a bright future and I believe that breakthrough innovations like our MAGMA technology are just the beginning.”
The above text is an excerpt from the exechange report 11.2024 ($), publication date March 11, 2024.