Glatfelter & Berry announce director designees for new Magnera board

The Magnera board of directors (Magnera board) will consist of nine directors, with five directors designated by Berry, three directors designated by Glatfelter, and the chief executive officer. As previously announced, at closing, Kevin M Fogarty, current non-executive chair of Glatfelter, will continue in the same role on the Magnera board and Curtis (Curt) L Begle, current president of Berry’s health, hygiene and specialties division, will serve as Magnera’s chief executive officer and as a director of Magnera, the company said in a press release.

Glatfelter and Berry have also announced additional director designees to be appointed at closing, including Bruce Brown, former chief technology officer for Procter & Gamble and current director of Glatfelter; Michael (Mike) S Curless, former chief investment officer and chief customer officer for Prologis; Thomas M Fahnemann, current director, president, and CEO of Glatfelter; Samantha (Sam) J Marnick, former chief operating officer and president of Spirit AeroSystems; Carl J (Rick) Rickertsen, managing partner of Pine Creek Partners and current director of Berry; and Thomas (Tom) E Salmon, former CEO and chairman of Berry.

Continuing Glatfelter board members were designated by Glatfelter and the others were designated by Berry. Under the transaction agreement, there remains one additional director position for the Magnera board to be designated by Berry, which designation will take place at a later time.

As a result of these designations, four of Glatfelter’s current directors, Kathleen A Dahlberg, Marie T Gallagher, Darrel Hackett and J Robert Hall will retire from the Glatfelter board upon closing of the transaction.

“This announcement is a significant step forward in our process to complete the merger of Glatfelter and Berry’s HHNF business and operate as one under the new Magnera name. I am very pleased with the level of expertise, diverse perspectives, and passion this collective group of professionals brings to the Magnera board. Their leadership and thoughtful contributions will provide tremendous value to our shareholders, customers and employees,” said Curt Begle, president of Berry’s health, hygiene and specialties division and incoming chief executive officer of Magnera.

“As chair of Glatfelter’s board of directors, I have had the privilege of working alongside a very dedicated and talented group of directors during my time on the board. I want to express my deep appreciation to my fellow directors for their many contributions and exceptional leadership throughout their tenure, always focused on prioritising shareholder interests while providing trusted oversight to the Glatfelter management team,” said Fogarty.

“Since joining Glatfelter in 2022, I have greatly appreciated the support and valuable insights provided by the Glatfelter board of directors as our team navigated a very challenging business environment. Their active engagement has been instrumental in shaping our strategy and positioning Glatfelter for long-term success as we prepare for the next chapter in our history,” added Fahnemann.

Fibre2Fashion News Desk (RR)