Tom Salmon to Remain in Advisory Role Through Year-End

Stephen Sterrett, Lead Independent Director, Named Chairman of the Board

In connection with this appointment, the Board has elected Stephen Sterrett, Lead Independent Director, as Chairman of the Board, also effective on October 2, 2023. As previously announced in February 2023, Tom Salmon will retire from his roles as CEO and Chairman, and he will remain with the Company through the end of the calendar year in an advisory capacity to ensure a smooth transition.

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Mr. Kwilinski brings to Berry nearly three decades of experience in the packaging industry and a track record of driving operational excellence, expanding margins and managing complex global operations. He currently serves as President and CEO of Multi-Color Corporation, a global provider of label solutions, where he successfully led and integrated multiple acquisitions, resulting in significant EBITDA and revenue growth while delivering above target commercial and operational synergies. Prior to that, he served as CEO of Fort Dearborn Company, a leading supplier of decorative labels for the beverage, food, household products, nutraceutical, paint and coatings sectors, which merged with Multi-Color in July 2021 with the backing of private equity firm Clayton, Dubilier & Rice. Mr. Kwilinski previously served as CEO of Paperworks Industries, where he guided the company’s growth by supporting an aggressive go-to-market strategy and simultaneously implemented continuous improvement processes that resulted in significant improvement in product quality, customer service levels and customer satisfaction.

“Following a comprehensive search process, the Board determined that Kevin is the ideal individual to guide Berry through its next phase of growth and value creation,” Mr. Sterrett said. “Kevin is a proven leader who knows our industry well. He has spent the last 15 years serving as the CEO of companies within the packaging space and, as an Indiana native, he understands the importance of Berry Global to the State. Kevin will be a great leader because he shares Berry’s values of teamwork, customer-focus and excellence, and his performance-driven leadership style directly aligns with Berry’s culture. He has distinguished himself over the course of his career as a disciplined operator with a focus on revenue growth and cost management. We are confident that he will be an outstanding CEO with the skills necessary to achieve our strategic objectives and accelerate shareholder value.”

Mr. Kwilinski said, “I am excited to join Berry, a company with a proud 56-year history and a reputation for excellence in the packaging industry. What attracted me to Berry is its ability to support customers at every stage of the product development process and deliver the most innovative solutions in the market. The efforts that Tom and the team have made over the last several years to pivot Berry’s portfolio into higher-growth markets, including food service, health and beauty, dispensing and pharmaceuticals, have created a strong foundation for future growth, and I am eager to capitalize on the opportunities ahead. I look forward to working alongside the Board, Berry’s management and the global team to lead the Company toward realizing its strategic value to benefit all our stakeholders.”