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Investing.com -- Amcor (NYSE:AMCR) stock rose 3.2% in premarket trading Friday after the global packaging company announced the appointment of Stephen R. Scherger as its new Executive Vice President and Chief Financial Officer.
Scherger, who previously served as Executive Vice President and CFO at Graphic Packaging for a decade, will succeed Michael Casamento effective November 10, 2025. Casamento is returning to Australia to be closer to his family after ten years in the role and will remain as an advisor until June 30, 2026, to support the transition.
The new CFO brings over 30 years of finance, operations, and strategy experience in the packaging industry. During his tenure at Graphic Packaging, the company’s net sales more than doubled to nearly $9 billion and net income nearly tripled.
"His proven track record of enhancing growth and profitability at lean, global businesses will further enhance Amcor’s ability to deliver near- and long-term value for customers and shareholders," said Amcor CEO Peter Konieczny in a statement.
Scherger commented on his appointment: "Amcor has established itself as a global leader and innovator in the packaging industry, especially after the Berry Global acquisition. I am honored and excited to join the team at this time and contribute to delivering the ongoing integration commitments."
Amcor also reaffirmed its first quarter and fiscal year 2026 outlook. The company continues to expect Adjusted EPS of 80-83 cents per share for fiscal 2026, representing 12-17% constant currency growth, and Free Cash Flow of $1.8-1.9 billion. For the first quarter, Amcor expects Adjusted EPS to be within the previously announced range of 18-20 cents per share.
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