Amcor CEO Ken MacKenzie to step down

Ken MacKenzie, the CEO of Australian PET packaging giant Amcor, will step down in June 2015.

MacKenzie has been at the helm of the Victoria, Australia-based company for the past 10 years. His replacement is Ron Delia, 43, who joined Amcor in 2005 and has been chief financial officer since 2011.

Delia was also vice president of Amcor’s Rigid Plastics Latin America operations from 2008-2011 and executive vice president Corporate Operations from 2005 – 2008.

“The company is in really good shape. Nothing is broken. The company has lots of momentum,” Delia told Australian reporters after MacKenzie’s resignation was announced. “We’ve got a great leadership team, and so fundamental strategy will not change.”

Under Mackenzie’s tenure since 2005, the company’s profits grew dramatically. In June 2005, Amcor’s profit after tax was $443 million; profits had swollen to $737 million by June 2014.

Ron Delia.