PRESS RELEASE DATED NOV. 18, 2009
Published on November 23, 2009
Exhibit
99.1
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News
Release
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For
Immediate Release
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http://www.ball.com
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Investor
Contact:
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Ann
T. Scott
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303-460-3537,
ascott@ball.com
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Media
Contact:
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Scott
McCarty
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303-460-2103,
smccarty@ball.com
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Hayes
Named President of Ball Corporation; Seabrook
Named
COO, Global Packaging Operations and Morrison
Named
SVP and CFO
BROOMFIELD,
Colo., Nov. 18, 2009—Ball Corporation [NYSE:BLL] today announced promotions and
senior management changes that will become effective at the beginning of 2010,
including that John A. Hayes will become president of Ball at that time. Hayes,
who will remain chief operating officer for the corporation, also will join
Ball’s board of directors at the beginning of the year.
Raymond J. Seabrook will become
executive vice president and chief operating officer, global packaging
operations, reporting to Hayes. Scott C. Morrison will become senior vice
president and chief financial officer and will remain treasurer. Morrison and
Hayes will report to R. David Hoover, chairman and chief executive officer of
Ball Corporation.
“We are very pleased to have John Hayes
become president of Ball Corporation and join our board,” said Hoover, who has
been president of Ball since January 2000. “He has been a major contributor to
our success since joining the company in 1999. Over the past two years he has
demonstrated exceptional leadership skills as executive vice president and chief
operating officer.”
Hayes began his career with Ball as
senior director, corporate planning and development. He was vice
president, corporate strategy, development and marketing, in 2005 when he was
named executive vice president of Ball Packaging Europe. He was president of
Ball Packaging Europe before being named to his current position at the
beginning of 2008.
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Ball
Corporation
10 Longs
Peak Drive ·
P.O. Box 5000 ·
Broomfield, CO 80021
Ball
Corporation – 2
Seabrook joined Ball Corporation in
1988 with the formation of Ball Packaging Products, Canada. He became corporate
vice president and treasurer in 1992 and chief financial officer in 2000. He has
been executive vice president and chief financial officer since
2006.
“Ray Seabrook will bring knowledge and
experience gained from 25 years in the packaging industry and more than two
decades with Ball Corporation to the new position of chief operating officer,
global packaging,” Hayes said. “Packaging products make up more than 90 percent
of Ball Corporation’s sales, and we look forward to having a strong, disciplined
leader in Ray to lead those businesses.”
Morrison joined Ball in 2000 as
treasurer after 16 years in the banking industry. He became vice president and
treasurer in 2002.
“Scott Morrison has been instrumental
in crafting and executing the strategy that has led to the strong financial
position we have today,” Hoover said. “Scott’s experience in effectively
managing financial risk has played a key role in steering Ball through this time
of unprecedented financial volatility, and his deep knowledge of our company and
our financial strategy make him well-suited to succeed Ray Seabrook as
CFO.”
Ball Corporation is a supplier of
high-quality metal and plastic packaging for beverage, food and household
products customers, and of aerospace and other technologies and services,
primarily for the U.S. government. Ball Corporation and its subsidiaries employ
more than 14,500 people worldwide and reported 2008 sales of approximately $7.6
billion.
Forward-Looking
Statements
This
release contains "forward-looking" statements concerning future events and
financial performance. Words such as “expects,” “anticipates,” “estimates” and
similar expressions are intended to identify forward-looking statements. Such
statements are subject to risks and uncertainties which could cause actual
results to differ materially from those expressed or implied. The company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Key risks and uncertainties are summarized in filings with the Securities and
Exchange Commission, including Exhibit 99.2 in our Form 10-K, which are
available at our Web site and at www.sec.gov. Factors that might
affect our packaging segments include fluctuation in product demand and
preferences; availability and cost of raw materials; competitive packaging
availability, pricing and substitution; changes in climate and weather; crop
yields; competitive activity; failure to achieve anticipated productivity
improvements or production cost reductions; mandatory deposit or other
restrictive packaging laws; changes in major customer or supplier contracts or
loss of a major customer or supplier; and changes in foreign exchange rates or
tax rates. Factors that might affect our aerospace segment include: funding,
authorization, availability and returns of government and commercial contracts;
and delays, extensions and technical uncertainties affecting segment contracts.
Factors that might affect the company as a whole include those listed plus:
accounting changes; changes in senior management; the current global recession
and its effects on liquidity, credit risk, asset values and the economy;
successful or unsuccessful acquisitions, joint
ventures or divestitures; integration of recently acquired businesses;
regulatory action or laws including tax, environmental, health and workplace
safety, including in respect of climate change, or chemicals or substances used
in raw materials or in the manufacturing process; governmental investigations;
technological developments and innovations; goodwill impairment; antitrust,
patent and other litigation; strikes; labor cost changes; rates of return
projected and earned on assets of the company's defined benefit retirement
plans; pension changes; reduced cash flow; interest rates affecting our debt;
and changes to unaudited results due to statutory audits or other effects.
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Ball
Corporation
10 Longs
Peak Drive ·
P.O. Box 5000 ·
Broomfield, CO 80021