Peter Konieczny has quickly ascended to the top of Amcor (ASX:AMC), being named the permanent CEO of the packaging giant this week. He succeeds Ron Delia, who stepped down in April after nine years in the role due to health reasons.
While Amcor conducted a global search for a successor, they ultimately decided that their former chief commercial officer was the best fit. Konieczny will now lead a global business valued at $US13.6 billion, overseeing 41,000 employees.
Since joining Amcor in 2010, Konieczny has held various leadership roles, including chief commercial officer for the past four years. In this position, he was responsible for global category and product management, sustainability, research and development, and procurement. He also maintained oversight of Amcor Flexibles Latin America.
Amcor's chairman, Graeme Liebelt, praised Konieczny's leadership: "Peter has demonstrated exceptional leadership in every role he has held during his career at Amcor, including as interim CEO. He has led the company through a period of strengthening financial performance and positioned the business for future growth. The board and I are confident he is the right person to lead Amcor, and we look forward to working with him to build on the strong foundation the company has established over many years."
Founded in Melbourne, Amcor is now the world's largest consumer packaging business, operating in 212 locations across 40 countries. The company's position was solidified five years ago with the $US10 billion acquisition of US-based Bemis.
While Amcor's sales revenue declined by 7% in the year to June, growth returned in the final quarter. The company expects this positive trend to continue in 2024-25.
Net sales for the year totaled $US13.64 billion, down from $US14.7 billion the previous year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 3% to $US1.96 billion.
In the August results announcement, Konieczny stated that "Volumes returned year on year in the final quarter as customer demand improved, and our team maintained their focus on cost cutting." To achieve this, Amcor eliminated 2,000 jobs and closed 10 operating plants during the year.
