Ball Corp (NYSE:BALL) announced on Monday that its board has appointed Ronald J. Lewis as Chief Executive Officer and a member of the board, effective immediately.
Lewis succeeds Daniel W. Fisher, who is stepping down from the role. The company said Fisher’s departure was not related to any disagreement with Ball.
Executive Background and Role
Lewis, who joined Ball in 2019, most recently served as chief supply chain and operations officer, overseeing global manufacturing, procurement, and engineering. He previously led Ball’s Europe, Middle East, and Asia beverage business, playing a pivotal role in driving Ball’s operational transformation and executing its growth strategy.
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CFO Appointment
The company also appointed Daniel J. Rabbitt as chief financial officer. Rabbitt, who had been interim CFO since May, joined Ball in 2004 and has held several senior roles, including vice president and general manager of the aerosol division and senior vice president of corporate planning and development.
Board Leadership Update
Stuart A. Taylor II, Ball’s lead independent director, has been elected Chairman of the Board.
Taylor said, “On behalf of the Board, I’d like to thank Dan Fisher for his leadership and many contributions to Ball through the years. Dan has helped guide the company through challenging external conditions, and today Ball is well-positioned to achieve its 2025 objectives.”
“It is an honor to step into the CEO role and continue building on Ball’s rich history of innovation, deep customer relationships and disciplined growth. I look forward to working with our talented team to deliver value for our customers, shareholders and communities,” said Lewis.
Recent Financial Results
Last week, Ball reported third-quarter comparable diluted earnings of $1.02 per share, matching analysts’ estimates and rising from 91 cents a year earlier.
Net sales for the quarter were $3.38 billion, surpassing the consensus estimate of $3.31 billion and up from $3.08 billion in the same period last year.
The company reaffirmed its full-year outlook for comparable diluted earnings per share growth of 12% to 15%, saying it remains on track to deliver strong free cash flow, enhance economic value added (EVA) and sustain long-term shareholder returns in 2025.
Price Action: BALL shares were trading lower by 5.59% to $46.24 at last check Monday.
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