Norbord Inc. reported Adjusted EBITDA of $170 million for the first quarter of 2018 versus $103 million in the first quarter of 2017 and $204 million in the fourth quarter of 2017. The year-over-year improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes, as well as higher European panel prices. The quarter-over-quarter decrease is due to lower North American OSB price realizations and shipment volumes. North American operations generated Adjusted EBITDA of $156 million compared to $102 million in the same quarter last year and $195 million in the prior quarter. European operations delivered Adjusted EBITDA of $18 million versus $6 million in same quarter last year and $12 million in the prior quarter. Click Read More below for additional information.
Marco Hilty, (49), Ph.D. in Business Administration from University of St. Gallen (Switzerland), has been appointed President, Flexible Packaging and a member of the Global Executive Team at Huhtamaki as of September 1, 2021. He will report to President and CEO Charles Héaulmé and will be based in Ronsberg, Germany.
Marco joins Huhtamaki from Rubicon, a software platform that provides smart waste and recycling solutions for businesses and governments worldwide. Prior to Rubicon, he held several leadership roles with Amcor in Switzerland and in the United States, covering Group Sales and Commercial Excellence, lastly as Vice President for Amcor Flexibles in North America. Prior to Amcor, Marco worked as an Engagement Manager at McKinsey & Company in the United States and Switzerland.
“I wish Marco a warm welcome to Huhtamaki and the Global Executive Team. His strong background in commercial leadership and solid experience within the flexible packaging industry, combined with his knowledge in waste and recycling solutions and circular economy make him exceptionally well prepared to lead our Flexible Packaging segment and deliver sustainable growth,” says Charles Héaulmé, President and CEO of Huhtamaki.
“It is a privilege to join Huhtamaki, a company with such a strong legacy and a proven track record in sustainability. The Flexibles business has a very strong footprint in emerging markets and is known for its outstanding innovation capabilities. I’m looking forward to working with the global Flexibles team to grow the business both profitably and sustainably,” says Marco Hilty.
Following the aforementioned change, the members of the Global Executive Team as of September 1, 2021 are:
Charles Héaulmé (Chairman), President and CEO;
Marco Hilty, President, Flexible Packaging;
Eric Le Lay, President, Fiber Foodservice Europe-Asia-Oceania;
Ann O’Hara, President, North America;
Thomas Geust, Chief Financial Officer;
Thomasine Kamerling, Executive Vice President, Sustainability and Communications;
Marina Madanat, Executive Vice President, Strategy and Business Development;
Sami Pauni, Executive Vice President, Corporate Affairs and Legal, Group General Counsel;
Teija Sarajärvi, Executive Vice President, Human Resources and Safety; and
Antti Valtokari, Executive Vice President, IT and Process Performance