Sonoco Announces Changes to Board of Directors

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HARTSVILLE, South Carolina, Feb. 12, 2022 (GLOBE NEWSWIRE) — Sonoco (NYSE: SON), one of the world’s largest sustainable packaging companies, today announced the departure of two members of the company’s board of directors.

Marc D. Oken, 75, chairman and founder of Falfurrias Capital Partners, a private equity firm in Charlotte, North Carolina, has reached mandatory retirement age from the board of directors and will not stand for re-election. re-election at the company’s 2022 Annual General Meeting. Oken joined the board in 2006 and serves on the company’s executive committee as well as the executive compensation, audit, corporate governance and nominating committees.

Additionally, 61-year-old Lloyd M. Yates, who was recently named president and chief executive officer of NiSource, Inc. (NYSE: NI), a Merrillville, IN-based energy holding company, has extended his resignation from the board of directors. administration of Sonoco, effective March 1. 2022. Yates has served on Sonoco’s board of directors since 2019 and is a member of the audit, financial policy, and employee and public accountability committees. Yate’s resignation was not the result of a disagreement between Yates and the Company, its management, its board of directors or any committee thereof, or regarding any matter relating to the operation, policies or practices of the society.

“We would like to thank Marc and Lloyd for their time, dedication and contributions to supporting Sonoco and the Board of Directors,” said John R. Haley, Chairman of Sonoco’s Board of Directors. With these changes, the Corporation expects to propose the re-election of 12 directors at its annual meeting.

About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global supplier of consumer, industrial, healthcare and protective packaging. With net sales of approximately $5.6 billion in 2021, the company has 20,500 employees working in approximately 300 operations in 32 countries, serving some of the world’s best-known brands in some 85 countries. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate goal of Better packaging. Better life. The company ranked first in the packaging industry on Fortune’s World’s Most Admired Companies for 2022 and was included in Barron’s 100 Most Sustainable Companies for the fourth consecutive year. For more information, visit www.sonoco.com.


        
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