Ball is welcoming a new CFO as the company goes all in on its packaging focus. Howard Yu is slated to take over Monday for Scott Morrison, who is entering retirement, the aluminum packaging company recently announced.
Yu joins Ball from dental products company Envista, which spun off from conglomerate Danaher in 2019.
Morrison will stay on as a senior advisor “to ensure a smooth transition and in support of the successful completion of the proposed Aerospace transaction,” Ball said in the Sept. 7 announcement. In August, the company announced it will focus solely on packaging going forward, having reached an agreement to sell its aerospace business to BAE Systems in a pending deal worth $5.6 billion.
Morrison was with Ball for more than two decades in numerous roles, starting as treasurer in 2000 after experience in the banking industry. Over the years he held titles at Ball including senior vice president, interim chief operating officer for global beverage packaging and most recently executive vice president and CFO.
During Morrison’s tenure, Ball’s M&A activity included a $6.1 billion deal for British consumer packaging company Rexam that closed in 2016.
In the announcement, CEO Dan Fisher credited Morrison with helping guide Ball through “periods of unprecedented financial volatility during the great financial crisis and the recent global pandemic.”