Amcor is hiring away Graphic Packaging International’s chief financial officer, the company announced Thursday. Stephen Scherger, who has served as GPI’s CFO for the last decade, will become CFO at Amcor come Nov. 10.
Amcor highlighted Scherger’s “leading role in transforming Graphic Packaging into the world’s largest producer of fiber-based packaging, including supporting the integration and synergy realization for a number of large-scale acquisitions,” noting in its release that GPI’s net sales more than doubled during Scherger’s tenure.
Deals during that period include GPI’s 2018 combination with International Paper’s North America consumer packaging business, as well as the 2021 purchase of AR Packaging for $1.45 billion.
Prior to holding positions in finance and consumer packaging at GPI, Scherger had roles in finance, operations and strategy at MeadWestvaco, which later became part of WestRock.
“It is a privilege to join Amcor as CFO,” Scherger said in a statement. “Amcor has established itself as a global leader and innovator in the packaging industry, especially after the Berry Global acquisition. I am honored and excited to join the team at this time and contribute to delivering the ongoing integration commitments, the identified portfolio optimization and driving long-term organic growth.”
Amcor’s CFO of 10 years Michael Casamento is leaving the company. He’ll remain as an advisor until June 30, 2026.
This is Amcor’s second major C-suite change in two years, having promoted Peter Konieczny to CEO in 2024.
GPI is scheduled to report third-quarter earnings on Nov. 4. Scherger will close out the quarter and leave the company Nov. 7.
GPI appointed Charles Lischer as its interim CFO. Lischer has served as GPI’s chief accounting officer since 2019.
