After 40 years at O-I Glass, Andres Lopez will retire on May 15th.

Mr Lopez joined O-I in 1986 and has held numerous leadership positions across the company’s global operations before being named CEO in January 2016.

Among other achievements, he successfully led the completion of a business portfolio optimisation programme, strengthened the balance sheet, delivered several inorganic and organic expansion projects and integrated sustainability into the business strategy.

During his tenure, the company has focused on innovation, exemplified by initiatives such as the development of its MAGMA and ULTRA technologies.

John H. Walker, Independent Board Chair, said: “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.

"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.”

The Board has been working with an executive search firm to identify O-I’s next CEO.

Mr Lopez is committed to supporting a seamless transition of responsibilities to his successor.

Mr Lopez said: “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.

“We have made significant progress on our transformational journey and are well-positioned to meet the evolving requirements of the packaging market and capitalise 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.”

Mr Lopez will step down from the O-I Board of Directors at the Company’s 2024 Annual Meeting of Stockholders to be held on May 15, 2024.