Amcor Chairman Graeme Liebelt has announced that after 10 years at the helm of Amcor, Ken MacKenzie has decided to retire from the position of managing director and CEO.

MacKenzie will leave Amcor at the end of the 2015 financial year and be succeeded by Ron Delia, currently Amcor’s chief financial officer.

Delia joined Amcor in 2005 and has been the CFO since February 2011. Previously he was vice president of the rigid plastics for Latin America operations (2008-2011) and executive vice president of corporate operations (2005-2008). Prior to joining Amcor, Delia spent five years with McKinsey & Company based in New York after starting his career in commercial roles in the packaging industry. Delia has an MBA from Harvard University and a Bachelor of Science degree.

Delia says: “Amcor’s success over the past decade has been built on the strength of a high quality and talented team of people. The business has developed a focused portfolio, built a unique operating model for the packaging industry, and established a clear understanding of shareholder value creation. These components will remain the foundations of the company going forward.”

Liebelt says: “Succession planning for Mr. MacKenzie has been underway for some time and Mr. Delia was selected after considering a strong field of well-qualified candidates from Amcor’s global management team.

“Mr. MacKenzie felt it was the right time to pass the baton to the next CEO and the board thanks Mr. MacKenzie for his extraordinary contribution to the company over the past 10 years.”

MacKenzie says: “I believe after 10 years in the role the time is right to hand over the leadership of the company. I have been fortunate to lead a very talented and committed team through an exciting journey that has created a global leader in the packaging industry with an extensive footprint and considerable opportunity for further growth.”