Owens-Illinois Group, Inc. (OI - Free Report) has announced certain changes in its leadership positions. The company has named Sergio Galindo the president of its North America segment and Tim Connors the president of the Asia Pacific segment, effective Jun 1, 2015.
Galindo will be responsible for operations in the U.S. and Canada. It is expected that he will promote the company’s strong operational focus to improve the extremely challenging market conditions, primarily due to the fluctuating energy prices, in the North American region.
Connors, during his 18-year tenure at Owens-Illinois, occupied several positions including finance, manufacturing and business strategy roles. Currently, he is serving as the general manager of Australian operations. Prior to this, Connors was vice president of finance for Owens-Illinois’ Asia Pacific region for three years.
As president of Asia Pacific, Connors will now be responsible for Owens-Illinois’ business in Australia, New Zealand, Indonesia and China, as well as the company`s joint venture interests in Malaysia and Vietnam. The company remains optimistic that Connors, with his experience of the region’s market dynamics, will help to drive growth in Asia Pacific.
In Apr 2015, Owens-Illinois appointed Suley Muratoglu as its vice president and chief marketing officer. He has extensive experience in the packaging industry and has demonstrated an ability to accelerate the innovation to commercialization processes. Muratoglu is responsible for overseeing Owens-Illinois’ sales and marketing activities on a global basis and ensuring the deployment of corporate strategy.
The appointment of these experienced leaders are in sync with Owens-Illinois’ strategic decision of enhancing its international presence, as the company’s global operations have been particularly instrumental in driving its business.
Owens-Illinois operates in four geographic regions. The company’s continuous focus on implementing processes for new business development, enhance commercial effectiveness and ensure delivery of customer value through product innovation; market knowledge and customer support will drive growth.
Last month, Owens-Illinois entered in a major deal to buy the food and beverage glass container business of Mexican company Vitro for $2.15 billion. The deal will provide Owens-Illinois a competitive edge in the attractive and growing glass segment of the packaging market in Mexico, further solidifying its position as the world's leading glass container producer.
Owens-Illinois currently holds a Zacks Rank #3 (Hold). Better-ranked stocks in the same sector include John Bean Technologies Corp. (JBT - Free Report) , Albany International Corp. (AIN - Free Report) and Allegion plc Ordinary Shares (ALLE - Free Report) . All these stocks carry a Zacks Rank #2 (Buy).
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