Anthony Civale and Donald Graham Step Down from Company’s Board
EVANSVILLE, Ind.--(BUSINESS WIRE)--Apr. 14, 2014--
Berry Plastics Group, Inc. (NYSE: BERY), a leading global manufacturer
and marketer of value-added plastic packaging and engineered materials,
today announced the appointment of Idalene F. (Idie) Kesner and Jonathan
(Jon) F. Foster to its Board of Directors. Kesner will serve on the
Company’s Nominating and Corporate Governance Committee, and Foster will
serve on its Compensation Committee. Kesner and Foster replace Anthony
Civale and Donald Graham who are stepping down from the Company’s Board.
Kesner has served as dean for Indiana University’s Kelley School of
Business, since July 2013. Kesner joined the Kelley School faculty in
1995, coming from a titled faculty position at the Kenan-Flagler
Business School at the University of North Carolina at Chapel Hill.
While at Indiana University (IU), Kesner has served as chairwoman of
Kelley’s Full-Time MBA Program, Chairwoman of the Department of
Management and Entrepreneurship, and co-directed the School’s Consulting
Kesner has taught in more than 100 executive programs and served as a
consultant for many national and international firms, working on
strategic issues. Her research has focused on the areas of corporate
boards of directors, corporate governance, and mergers and acquisitions.
Kesner is a director for Lincoln Industries, Main Street America Group,
and Sun Life Financial. Kesner holds an MBA and Ph.D. in business
administration from IU and a bachelor’s degree in business
administration from Southern Methodist University.
Foster is Founder and a Managing Director of Current Capital LLC, a
private equity investing and management services firm. Prior to this
role, Foster served as a Managing Director and Co-Head of Diversified
Industrials and Services at Wachovia Securities. Foster has served in
numerous key executive leadership positions including: Executive Vice
President - Finance and Business Development of Revolution LLC; Managing
Director of The Cypress Group; Senior Managing Director and Head of
Industrial Products and Services Mergers and Acquisitions at Bear
Stearns & Co; and Executive Vice President, Chief Operating Officer, and
Chief Financial Officer of ToysRUs.com, Inc. Prior to the aforementioned
positions, Foster was with Lazard for over 10 years, primarily in
mergers and acquisitions.
Foster is a board member of Masonite International Corporation, Lear
Corporation and Chemtura Corporation as well as a Trustee of the New
York Power Authority. He was previously a member of the board of
directors of Smurfit-Stone Container Corporation. Foster has a
bachelor’s degree in Accounting from Emory University, a master’s degree
in Accounting and Finance from the London School of Economics and has
attended the Executive Education Program at Harvard Business School.
“We are very pleased to welcome Idie and Jon to our Board. Idie is an
accomplished educator and researcher, whose business insights and
perspectives will be valuable resources to our Board,” said Jon Rich,
Chairman and CEO of Berry Plastics. “At the same time, Jon’s in-depth
investment banking and investing knowledge will be called upon as we
implement initiatives to further strengthen the Company’s financial
performance and enhance shareholder value.”
Donald Graham and Anthony Civale have served as members of Berry
Plastics’ Board of Directors since 2006.
“As we are transitioning to a majority independent Board, on behalf of
Berry Plastics and its Board of Directors, I extend our sincere
appreciation to Don and Anthony for their commitment to Berry Plastics
over the past seven years,” Rich added. “During this period, and with
their leadership contributions, the Company has grown significantly.”
About Berry Plastics
Berry Plastics Group, Inc. is a leading
provider of value-added plastic consumer packaging and engineered
materials delivering high-quality customized solutions to our customers
with annual net sales of $4.6 billion in fiscal 2013. With world
headquarters in Evansville, Indiana, the Company’s common stock is
listed on the New York Stock Exchange under the ticker symbol BERY. For
additional information, visit the Company’s website at www.berryplastics.com.
statements and information included in this release may constitute
"forward looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance, or achievements
of Berry Plastics to be materially different from any future results,
performance, or achievements expressed or implied in such forward
looking statements. Additional discussion of factors that could cause
actual results to differ materially from management’s projections,
forecasts, estimates and expectations is contained in the companies' SEC
filings. The companies do not undertake any obligation to update any
forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events or
Source: Berry Plastics Group, Inc.
Berry Plastics Group, Inc.
Dustin Stilwell, 812-306-2964