Summary
Amcor plc (AMCR) has officially appointed Peter Konieczny as its Chief Executive Officer (CEO), effective September 4, 2024. This appointment follows his successful tenure as Interim CEO since April 15, 2024. Mr. Konieczny, with deep roots at Amcor since 2010 and extensive experience across various leadership roles within the company and the packaging industry, was selected after a comprehensive internal and external search. This transition marks a significant leadership milestone, providing continuity and a proven leader at the helm.
Key Highlights
- 1Peter Konieczny appointed permanent Chief Executive Officer (CEO).
- 2Konieczny has served as Interim CEO since April 2024 and has been with Amcor since 2010.
- 3The Board of Directors confirmed Konieczny's appointment after an internal and external search.
- 4Konieczny is expected to be nominated as a director at the 2024 annual general meeting.
- 5His employment agreement includes an annualized base salary of CHF 1,580,190.
- 6Compensation structure includes participation in Management Incentive Plan (MIP) and Equity Management Incentive Plan (EMIP), with long-term incentives.
- 7Details on severance and restrictive covenant terms in case of termination have been outlined.
Frequently Asked Questions
Peter Konieczny has been appointed as the new Chief Executive Officer (CEO) of Amcor, effective September 4, 2024.
Mr. Konieczny has a long history with Amcor, having been employed by the company or its predecessors since 2010. He has held various senior roles, including Chief Commercial Officer and President of key business segments, and served as Interim CEO from April 2024 until his permanent appointment.
Mr. Konieczny will receive an annualized base salary of CHF 1,580,190. His compensation also includes participation in the Management Incentive Plan (MIP) with a target incentive of 120% of base salary, the Equity Management Incentive Plan (EMIP) where he receives annual grants valued at 50% of his cash MIP payout in the form of RSUs, and the Long-Term Incentive Plan with grants valued at 250% of his base salary.
In the event of termination without cause (or if he is a 'good leaver'), Mr. Konieczny is entitled to 12 months of base salary as severance, earned MIP/EMIP payments, a pro-rated portion of the current performance period's MIP award, accelerated vesting of certain RSUs and equity awards, and an extended 12-month restraint period with corresponding compensation. The definition of the restrictive covenant's geographical scope has also been broadened.