James T. Glerum, Jr. Appointed to the Board of Directors of Berry Global Group, Inc.
Berry Global Group, Inc. (NYSE: BERY) has announced the appointment of James T. Glerum, Jr. to its Board of Directors. Glerum, 64, recently retired as Vice Chairman, Investment Banking at Citigroup in July 2024. With a 40-year career in investment banking, Glerum has executed over 325 corporate finance and strategic transactions valued at more than $500 billion across multiple industries.
Glerum's extensive experience in investment banking, capital markets, and the packaging industry is expected to enhance Berry's Board's expertise, particularly in capital allocation and portfolio evaluation. He holds an M.B.A. from Harvard Business School and serves on the board of trustees for several Midwest non-profit institutions.
Berry Global Group, Inc. (NYSE: BERY) ha annunciato la nomina di James T. Glerum, Jr. nel suo Consiglio di Amministrazione. Glerum, 64 anni, si è recentemente ritirato dal ruolo di Vice Presidente, Investment Banking presso Citigroup a luglio 2024. Con una carriera di 40 anni nel settore dell'investment banking, Glerum ha eseguito oltre 325 transazioni di finanza aziendale e strategica per un valore superiore a 500 miliardi di dollari in vari settori.
La vasta esperienza di Glerum nell'investment banking, nei mercati dei capitali e nell'industria dell'imballaggio è destinata a potenziare le competenze del Consiglio di Berry, in particolare nella allocazione di capitale e nella valutazione del portafoglio. Ha conseguito un M.B.A. presso la Harvard Business School e fa parte del consiglio di fondazione di diverse istituzioni non profit nel Midwest.
Berry Global Group, Inc. (NYSE: BERY) ha anunciado el nombramiento de James T. Glerum, Jr. a su Junta Directiva. Glerum, de 64 años, se retiró recientemente como Vicepresidente de Banca de Inversión en Citigroup en julio de 2024. Con una carrera de 40 años en banca de inversión, Glerum ha ejecutado más de 325 transacciones de finanzas corporativas y estratégicas valoradas en más de 500 mil millones de dólares en múltiples industrias.
La amplia experiencia de Glerum en banca de inversión, mercados de capital y la industria del embalaje se espera que potencie la experiencia de la Junta de Berry, particularmente en asignación de capital y evaluación de portafolios. Tiene un M.B.A. de Harvard Business School y forma parte de la junta de varios institutos sin fines de lucro en el Medio Oeste.
베리 글로벌 그룹 주식회사 (NYSE: BERY)는 James T. Glerum, Jr.를 이사회의 위원으로 임명했다고 발표했습니다. 64세의 Glerum은 2024년 7월 시티그룹 투자은행 부회장직에서 은퇴했습니다. 40년의 투자은행 경력을 가진 Glerum은 5000억 달러 이상의 가치가 있는 325건 이상의 기업 재무 및 전략 거래를 수행했습니다.
투자은행, 자본 시장 및 포장 산업에 대한 Glerum의 폭넓은 경험은 베리 이사회의 전문성을 강화할 것으로 기대되며, 특히 자본 할당 및 포트폴리오 평가에 도움이 될 것입니다. 그는 하버드 비즈니스 스쿨에서 M.B.A.를 취득하였고, 미주리주에 있는 여러 비영리 기관의 이사회에서도 활동하고 있습니다.
Berry Global Group, Inc. (NYSE: BERY) a annoncé la nomination de James T. Glerum, Jr. au sein de son Conseil d'Administration. Glerum, âgé de 64 ans, a récemment pris sa retraite en tant que Vice-Président, Banque d'Investissement chez Citigroup en juillet 2024. Avec une carrière de 40 ans dans la banque d'investissement, Glerum a réalisé plus de 325 transactions de financement d'entreprise et stratégies d'une valeur de plus de 500 milliards de dollars dans divers secteurs.
Les vastes expériences de Glerum en banque d'investissement, sur les marchés des capitaux et dans l'industrie de l'emballage devraient renforcer l'expertise du Conseil de Berry, en particulier en matière d'allocation de capital et d'évaluation de portefeuille. Il est titulaire d'un M.B.A. de la Harvard Business School et siège au conseil d'administration de plusieurs institutions à but non lucratif dans le Midwest.
Berry Global Group, Inc. (NYSE: BERY) hat die Ernennung von James T. Glerum, Jr. in seinen Vorstand bekannt gegeben. Glerum, 64 Jahre alt, trat im Juli 2024 als Vice Chairman, Investment Banking bei Citigroup in den Ruhestand. Mit einer 40-jährigen Karriere im Investment Banking hat Glerum über 325 Unternehmensfinanzierungs- und strategische Transaktionen mit einem Gesamtwert von mehr als 500 Milliarden Dollar in mehreren Branchen durchgeführt.
Die umfangreiche Erfahrung von Glerum im Investment Banking, an den Kapitalmärkten und in der Verpackungsindustrie wird voraussichtlich die Expertise des Vorstands von Berry verbessern, insbesondere in den Bereichen Kapitalallokation und Portfolio-Bewertung. Er hat einen MBA von der Harvard Business School und ist Mitglied des Kuratoriums mehrerer gemeinnütziger Institutionen im Mittleren Westen.
- Appointment of James T. Glerum, Jr. brings extensive investment banking and capital markets expertise to the Board
- Glerum's experience spans 40 years with over 325 transactions worth $500 billion
- Addition of Glerum enhances Board's capabilities in capital allocation and portfolio evaluation
- None.
Glerum, age 64, retired as Vice Chairman, Investment Banking at Citigroup in July 2024. Prior to joining Citigroup in 2011, Mr. Glerum held senior leadership positions in investment banking at UBS and Credit Suisse in
Mr. Glerum earned an M.B.A. from The Harvard Business School and a B.A., cum laude, in Economics and Mathematics from Denison University.
“On behalf of Berry and its Directors, I would like to welcome Jim to our Board,” said Steve Sterrett, Berry’s Chairman of the Board. “Jim’s extensive investment banking, capital markets, capital allocation and packaging industry experience will further enhance our Board's existing business acumen, while bringing additional insights and perspectives in capital allocation and portfolio evaluation activities.”
About Berry
At Berry Global Group, Inc. (NYSE: BERY), we create innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 40,000 global employees across more than 250 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey. For more information, visit our website, or connect with us on LinkedIn.
Forward Looking Statements
Statements in this release that are not historical, including statements relating to the expected future performance of the Company as well as estimates and statements as to the expected timing, completion and effects of the proposed transaction between Berry and Glatfelter, are considered “forward looking” within the meaning of the federal securities laws and are presented pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “would,” “could,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “outlook,” “anticipates” or “looking forward,” or similar expressions that relate to our strategy, plans, intentions, or expectations. All statements we make relating to estimates and statements about the expected timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction, benefits of the Glatfelter transaction, including future financial and operating results, executive and Board transition considerations, the combined company’s plans, objectives, expectations and intentions, and other statements that are not historical facts, as well as statements we make relating to our estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates, and financial results or to our expectations regarding future industry trends are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments.
Our actual results may differ materially from those that we expected due to a variety of factors, including without limitation: (1) risks associated with our substantial indebtedness and debt service; (2) changes in prices and availability of resin and other raw materials and our ability to pass on changes in raw material prices to our customers on a timely basis; (3) risks related to acquisitions or divestitures and integration of acquired businesses and their operations, and realization of anticipated cost savings and synergies; (4) risks related to international business, including transactional and translational foreign currency exchange rate risk and the risks of compliance with applicable export controls, sanctions, anti-corruption laws and regulations; (5) increases in the cost of compliance with laws and regulations, including environmental, safety, and climate change laws and regulations; (6) labor issues, including the potential labor shortages, shutdowns or strikes, or the failure to renew effective bargaining agreements; (7) risks related to disruptions in the overall global economy, persistent inflation, supply chain disruptions, and the financial markets that may adversely impact our business; (8) risk of catastrophic loss of one of our key manufacturing facilities, natural disasters, and other unplanned business interruptions; (9) risks related to weather-related events and longer-term climate change patterns; (10) risks related to the failure of, inadequacy of, or attacks on our information technology systems and infrastructure; (11) risks that our restructuring programs may entail greater implementation costs or result in lower cost savings than anticipated; (12) risks related to future write-offs of substantial goodwill; (13) risks of competition, including foreign competition, in our existing and future markets; (14) risks related to market conditions associated with our share repurchase program; (15) risks related to market disruptions and increased market volatility; (16) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (17) the risk that Glatfelter shareholders may not approve the transaction proposals; (18) the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated or may be delayed; (19) risks that any of the other closing conditions to the proposed transaction may not be satisfied in a timely manner; (20) risks that the anticipated tax treatment of the proposed transaction is not obtained; (21) risks related to potential litigation brought in connection with the proposed transaction; (22) uncertainties as to the timing of the consummation of the proposed transaction; (23) risks and costs related to the implementation of the separation of the Berry Spinco from Berry., including timing anticipated to complete the separation, any changes to the configuration of the businesses included in the separation if implemented, as well as unexpected costs, charges or expenses resulting from the proposed transaction; (24) the risk that the integration of the combined companies is more difficult, time consuming or costly than expected; (25) risks related to financial community and rating agency perceptions of each of Berry and Glatfelter and its business, operations, financial condition and the industry in which they operate; (26) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (27) failure to realize the benefits expected from the proposed transaction; (28) the effects of the announcement, pendency or completion of the proposed transaction on the ability of the parties to retain customers and retain and hire key personnel and maintain relationships with their counterparties, and on their operating results and businesses generally; and (29) the other factors and uncertainties discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission (“SEC”). These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the registration statements, proxy statement/prospectus and other documents that will be included in the registration statements that will be filed with the SEC in connection with the proposed transaction. We caution you that the foregoing list of important factors may not contain all of the material factors that are important to you. New factors may emerge from time to time, and it is not possible for us to predict new factors, nor can we assess the potential effect of any new factors on us. Accordingly, readers should not place undue reliance on those statements. All forward-looking statements are based upon information available to us on the date hereof. All forward-looking statements are made only as of the date hereof and we undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240906305959/en/
Dustin Stilwell
VP, Investor Relations
+1 (812) 306 2964
ir@berryglobal.com
Source: Berry Global Group, Inc.
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