O-I Glass CEO Andres Lopez to Retire

O-I Glass CEO Andres Lopez to Retire

O-I Glass has announced that Andres Lopez will retire as Chief Executive Officer, effective May 15, 2024, following a nearly 40-year career. The Board has been working with an executive search firm to identify his successor and he is committed to supporting a seamless transition of responsibilities.

Mr Lopez joined O-I in 1986 and has held numerous leadership positions across a range of global operations before being named CEO in January 2016. Under his leadership, the company has been significantly transformed into a more capable, resilient, agile and disciplined organization. Among other achievements, he successfully led the completion of a business portfolio optimization programme, strengthened the balance sheet, delivered several inorganic and organic expansion projects and integrated sustainability into the business strategy. During his tenure, the focus on innovation has been exemplified by initiatives such as the development of its MAGMA and ULTRA technologies. This transformational journey has delivered strong financial results and laid the foundation for long-term profitable 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. “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 Board is committed to identifying a leader to build on this momentum and deliver future value creation for O-I customers and shareholders. We look forward to continuing to work with Andres as we complete the search process and wish him all the best in his well-deserved retirement.”

“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 Mr Lopez. “We have made significant progress on our transformational journey and are well-positioned to meet the evolving requirements of the packaging market and capitalize on emerging trends. Indeed, I am extremely proud of what we have built together as we advance new standards in sustainable glass manufacturing. O-I has a bright future and I believe that breakthrough innovations like our MAGMA technology are just the beginning.”