UPDATE: Berry Global announced Aug. 15, 2023 they have chosen a new CEO after a monthslong search.
Tom Salmon, who has ushered Berry Global Group Inc. through the largest growth in company history, is retiring at the end of this year.
The Evansville, Ind.-based plastic packaging company has hired executive search firm Spencer Stuart to help identify a successor. Both internal and external candidates will be considered, the company said.
"Our primary goal in the CEO search process will be to identify a strong leader to build on Tom's legacy, one who shares Berry's core values and who will continue the company's momentum. We look forward to Tom's continued leadership in the year ahead and fully expect a seamless transition," said Stephen Sterrett, Berry's lead independent director, said in a statement.
Salmon became CEO six years ago — almost to the day, on Feb. 3, 2017 — and succeeded Jon Rich, who also retired after six years as CEO.
Not long into his tenure, the company changed its name from Berry Plastics Group Inc. to Berry Global Group Inc. in a move that signaled the firm's intentions to grow beyond its traditional North American roots.
"Under Tom's outstanding leadership, Berry has achieved record results, established the industry's most diversified and expansive manufacturing footprint, bolstered our portfolio with sustainability-focused investments in emerging markets, and consistently delivered for customers," Sterrett said.
Salmon, who also is chairman of the board, is scheduled to retire Dec. 31.
"I am extremely proud of all that our talented team has accomplished as we continue to execute our strategy and trailblaze the industry by developing sustainable and innovative packaging, even during a period of unprecedented global disruption," Salmon said.
Salmon has been CEO during a time of tremendous growth for the company, which posted sales of $6.5 billion during fiscal year 2016. Thanks in large part to acquisitions, the company now has sales of $14.5 billion for fiscal year 2022.
Berry is the largest injection molder in North America, according to Plastics News data, with more than $1.8 billion in sales in the region. It is No. 4 among film and sheet makers with nearly $2.6 billion in sales, No. 11 among blow molders in North America with $634 million in sales and No. 6 in thermoforming with $582 million in sales.