Paul Coulson to transition from Chairman to Director role
Ardagh Group S.A. (“Ardagh Group”), a leading global supplier of sustainable, infinitely recyclable metal and glass packaging today announces a decision by Paul Coulson to step down as Chairman of Ardagh Group and of its 76%-owned subsidiary Ardagh Metal Packaging S.A. (“Ardagh Metal Packaging”), on November 15, 2023.
Mr. Coulson will be succeeded by Herman Troskie who currently serves as a director of Ardagh Group, Ardagh Metal Packaging and ARD Holdings S.A. (“ARD Holdings”), the ultimate parent of Ardagh Group. This transition is the culmination of a succession process that, in recent years, has seen the appointments of Oliver Graham as CEO of Ardagh Metal Packaging, and Michael Dick as CEO of Ardagh Glass Packaging.
Mr. Coulson (71) has been Chairman of Ardagh Group since 1998, leading its development from a single-plant glass operation in Dublin with annual revenue of approximately $50 million, to a global player in sustainable glass and metal packaging, operating across Europe, the Americas and Africa, with annualised revenues of more than $9 billion. Mr. Coulson will remain a Director of Ardagh Group, Ardagh Metal Packaging and ARD Holdings, and will remain the controlling shareholder of ARD Holdings.
Herman Troskie (53), a director of Ardagh Group, Ardagh Metal Packaging and ARD Holdings, will succeed Paul Coulson as Chairman of all three companies and will join Ardagh on a full-time basis in November. Based in Luxembourg, Mr. Troskie will step down from his current role as CEO of Corporate, Legal and Tax Advisory at Stonehage Fleming, an international family office. He has been a director of Ardagh Group since 2009 and has been closely involved with the growth and development of the Group since then.
Ardagh Group is a global supplier of sustainable, infinitely recyclable metal and glass packaging for brand owners around the world. It operates 63 metal and glass production facilities in 16 countries, employing more than 20,000 people with sales of more than $9 billion.
Paul Coulson (71) graduated from Trinity College Dublin in 1973 and spent five years with Price Waterhouse in London and Dublin, before establishing his own accounting firm. In 1980, he set up Yeoman International and developed it into a significant leasing and structured finance business. In 1998 he became Chairman of Ardagh and initiated the transformation of the business from a small, single-plant glass operation into a leading global packaging company. Over the last 40 years, he has been involved in the creation and development of a number of other businesses, including Fanad Fisheries, a leading Irish salmon farming company, and Sterile Technologies which, prior to its sale in 2006, had been developed into the leading medical waste management company in the United Kingdom and Ireland.
Herman Troskie (53) is currently the CEO of Corporate, Legal and Tax Advisory at Stonehage Fleming, an international family office. He has extensive experience in the areas of international corporate structuring, cross-border financing and capital markets, with a particular interest in integrated structuring for entrepreneurs and their businesses. He has been a director of Ardagh Group since 2009 and is intimately familiar with the growth and development of the Group over many years. Mr. Troskie is also a director of companies within the Yeoman group of companies, and other private and public companies. He qualified as a South African Attorney in 1997, and as a Solicitor of the Senior Courts of England and Wales in 2001.
Forward-Looking StatementsThis press release includes forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. The person responsible for the release of this information on behalf of Ardagh Packaging Finance plc and Ardagh Holdings USA Inc. is John Sheehan, Chief Financial Officer.
11 September 2023