Lending Association

Amcor CEO forced to retire

Ill-health has forced Amcor’s long time CEO, Ron Delia to retire.

Amcor said in a statement on Wednesday that Delia had told the company last Saturday (March 16) of his intention to retire as soon as possible.

He will remain CEO until mid April (April 15) and then stay on as an advisor until September 30.

Delia has been Amcor’s CEO for 9 years and oversaw the change of domicile for the company to the New York Stock Exchange after it took over US packager, Bemis for $US5.25 billion in an all paper transaction.

Delia took the reins around two years after Amcor split itself into two companies – international (itself) and Ororoa for Australia.

The Board has appointed Peter Konieczny, the current Chief Commercial Officer, as Interim CEO and started a global search.

He has been with Amcor since 2010 and CCO since 2020.

Amcor also reaffirmed its fiscal 2024 guidance, projecting adjusted EPS of 67 to 71 cents and adjusted free cash flow of $850 million to $950 million, despite the sale of its Russian business and other factors.