O-I Glass has announced that Andres Lopez, CEO of the company for the past eight years, will retire on 15 May 2024, after nearly four decades with the company.
Lopez joined O-I in 1986 and held various leadership positions across the company's global operations before assuming the CEO role in 2016.
During his tenure, Lopez is credited with leading a significant transformation of O-I, making it a 'more capable, resilient, agile and disciplined organisation.' He is also credited with:
- Completing a business portfolio optimisation programme.
- Strengthening the company's balance sheet.
- Overseeing inorganic and organic expansion projects.
- Integrating sustainability into the company's business strategy.
- Driving innovation through initiatives such as the development of MAGMA and ULTRA technologies.
These efforts are said to have resulted in strong financial performance and set the foundation for future growth.
“On behalf of the board, I would like to thank Andres for his vision, leadership and contributions to O-I during his nearly four-decade tenure, including the last eight years as CEO,” said John H Walker, independent board chair at O-I Glass.
“Andres has played a critical role in strategically expanding O-I into key global markets and transforming the business to be an innovation leader.”
The company has already begun the search for Lopez's successor, with a smooth transition expected.
“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,” said Lopez.
“We have made significant progress on our transformational journey and are well-positioned to meet the evolving requirements of the packaging market and capitalise on emerging trends.”
Lopez will also step down from the O-I board of directors at the company's annual meeting this May.
