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Ball Corporation Board Elects Fisher as CEO; Hayes to remain Chairman

BALL | January 26, 2022

WESTMINSTER, Colo., Jan. 26, 2022 /PRNewswire/ -- Ball Corporation (NYSE: BLL) today announced that Dan Fisher, 49, currently president of Ball Corporation, was elected by its board of directors to the additional role of chief executive officer, effective at the annual shareholders meeting on Wednesday, April 27. John Hayes, 56, who has been Ball's CEO since January 2011, will remain chairman of the board, and will continue to lead the company's board activities and support its sustainability advocacy efforts.

"On behalf of our board of directors, we are pleased to elect Dan as our next CEO, the 12th CEO in our company's 142-year history," said John Hayes, chairman and CEO. "Dan is a proven and respected leader who has exemplified behaving like an owner, as he has delivered strong operating results through a relentless commitment to our customers, our people and our culture. He is ready for these new responsibilities, and we could not be more excited for our future under Dan's leadership."

Fisher, who was promoted to president in January 2021, will retain the title of president as he assumes the CEO role. He has 12 years of executive leadership experience at Ball in a variety of positions, including senior vice president and chief operating officer of the global beverage business from 2016 to 2021, and president of the North and Central America beverage business prior to that. More recently, he has had responsibility for Ball's aerospace, aluminum aerosol and aluminum cups businesses. Prior to Ball, Fisher held ever increasing financial leadership positions in companies including Emerson and Danaher.

"This announcement is the successful culmination of a purposeful, multiyear succession plan based on John's desire to step away from day-to-day management. Dan has worked closely with the board over the past several years, and we look forward to the next phase in our development with Dan as CEO," said Stuart Taylor, lead independent director of Ball's board of directors. "On behalf of the board, I want to thank John for his dedication as CEO. Under his leadership, the company has generated significant value and EVA dollars for its stakeholders while ensuring Ball is truly sustainable from an environmental, social and economic perspective. John's drive for results—coupled with his focus on the Ball culture and commitment to doing the right thing—have been key to both our past success and positioning the company to capitalize on the many opportunities ahead. I would also like to thank John for continuing as the company's chairman and facilitating the change in leadership during the transition period."

"It is an honor to be named the next CEO of Ball Corporation, and I want to thank both John and the board for the confidence they have placed in me to lead this strong organization," Fisher said. "Ball is well-positioned for the future, and I welcome the opportunity to continue to work with John as chairman and benefit from his experience as we create value for all of our stakeholders, using Drive for 10 and EVA as our guide."

About Ball Corporation

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 21,500 people worldwide and reported 2020 net sales of $11.8 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.

Forward-Looking Statements

This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," and similar expressions typically identify forward-looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements and they should be read in conjunction with, and qualified in their entirety by, the cautionary statements referenced below. 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 factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Additional factors that might affect: a) our packaging segments include product capacity, supply, and demand constraints and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment, and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes, including the startup of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable mandatory deposit or packaging laws; customer and supplier consolidation; power and supply chain interruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; inability to pass through increased costs; political instability and sanctions; currency controls; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions, including business restrictions and shelter-in-place orders in any country or jurisdiction affecting goods produced by us or in our supply chain, including imported raw materials; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the company as a whole include those listed above plus: the extent to which sustainability-related opportunities arise and can be capitalized upon; changes in senior management, succession, and the ability to attract and retain skilled labor; regulatory actions or issues including those related to tax, ESG reporting, competition, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; disease; pandemic; labor cost changes; inflation; rates of return on assets of the company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies, including policies, orders, and actions related to COVID-19; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, and their effects on our operating results and business generally.