Sonoco Implements Key Leadership Adjustments for Future Success

Exciting Leadership Changes at Sonoco

Sonoco Products Company, known for its commitment to sustainable packaging solutions, has initiated significant changes within its senior leadership team, effective from January 3, 2025. These adjustments are designed to further strengthen the Company's strategic direction and operational capabilities as it continues to serve a diverse array of global brands.

Interim CFO Appointment

In a pivotal move, Jerry Cheatham, who has played a crucial financial role within Sonoco for over 36 years, has been appointed as the interim Chief Financial Officer. Cheatham, previously the Vice President of Global Finance for the Industrial Paper Packaging segment, is well-equipped to guide the organization through this transition. A South Carolina State University graduate with an EMBA from Vanderbilt University, he has been instrumental in various finance and accounting capacities since joining the Company in 1988. This interim position comes in the wake of Rob Dillard's departure, and Cheatham has been tasked with maintaining stability during this transition while a comprehensive search for a permanent CFO is underway.

Leadership Praise

Howard Coker, Sonoco's President and CEO, expressed confidence in Cheatham's ability to lead, highlighting his extensive expertise and trusted reputation within the Company. Coker also conveyed gratitude to Rob Dillard for his valuable contributions since joining in 2018, noting Dillard's integral role in positioning Sonoco as a leader in sustainable packaging.

Expanded Responsibilities for Current Executives

Additions to Sonoco’s leadership structure also include Shawn Munday, who will oversee critical functions including treasury and mergers. Munday joined Sonoco in 2022 after a notable academic career at the University of North Carolina, bringing with him significant experience from Citigroup. His broad background in finance positions him well to contribute to Sonoco's strategy moving forward.

John Florence Takes on New Challenges

John Florence, currently serving as General Counsel, has additionally been appointed to manage operations for North America's Paper division. This development follows his successful leadership of the Converted Paper Products division and aligns with Sonoco's efforts to streamline operations. He will play a vital role as the Company continues to integrate its diverse businesses, enhancing efficiency and reinforcing its market presence.

Interim Head of Investor Relations

In further restructuring, Roger Schrum has stepped into the role of interim Head of Investor Relations, following Lisa Weeks' departure. Schrum, a former Vice President of Investor Relations with over 17 years at Sonoco, is expected to ensure smooth communication with stakeholders during this transition period.

Upcoming Financial Reporting

Looking ahead, Sonoco is set to announce its fourth-quarter and full-year results for 2024 on February 18, 2025, followed by a conference call on February 19, 2025, to discuss these outcomes. This call will provide insights into the Company’s strategic vision for the upcoming year and clarify how these leadership changes will support the Company’s goals.

About Sonoco Products Company

Sonoco (NYSE: SON) stands out as a global leader in sustainable packaging solutions, committed to serving some of the best-known brands across varied sectors. With a deep-rooted culture of innovation expressed through their slogan, Better Packaging. Better Life™, Sonoco's portfolio meets the demanding needs of both consumer and industrial markets. Generating revenues of approximately $6.8 billion in 2023, the Company employs around 22,000 people in over 300 operations worldwide. Furthermore, Sonoco has earned recognition as one of America’s Most Responsible Companies by Newsweek, affirming its commitment to sustainable practices.

Frequently Asked Questions

What leadership changes has Sonoco announced?

Sonoco has appointed Jerry Cheatham as interim CFO and expanded John Florence's responsibilities to include the North America Paper division.

Why is there an interim CFO at Sonoco?

Jerry Cheatham steps in as interim CFO following Rob Dillard's departure to ensure the continuity of financial leadership during the search for a permanent CFO.

What areas will Shawn Munday oversee?

As Vice President of Strategic Finance, Shawn Munday will manage global treasury, tax, and mergers and acquisitions.

When will Sonoco announce its financial results?

The Company will announce its fourth-quarter and full-year 2024 results on February 18, 2025.

How has Sonoco been recognized in terms of sustainability?

Sonoco was named one of America’s Most Responsible Companies by Newsweek, reflecting its commitment to environmentally friendly practices.

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