Sonoco announced that two members of the Company’s Board of Directors will be leaving. Marc D. Oken, chairman and founder of Falfurrias Capital Partners, a Charlotte, N.C., private equity firm, has reached the Board’s mandatory retirement age and will not stand for reelection 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 and Corporate Governance and Nominating committees.
In addition, Lloyd M. Yates, who was recently named President and CEO of NiSource, Inc., a Merrillville, IN, energy holding company, extended his resignation to Sonoco’s Board, effective March 1, 2022. Yates served on Sonoco’s Board since 2019 and is a member of Audit, Financial Policy and Employee and Public Responsibility committees. Yate’s resignation was not the result of any disagreement between Yates and the Company, its management, board of directors or any committee thereof, or with respect to any matter relating to the Company’s operation, policies or practices.
With these changes the Company expects to nominate 12 directors for reelection at its annual meeting.
Sonoco is a global provider of consumer, industrial, healthcare and protective packaging.
