Organizational Announcement – Business Unit Consolidation

It is with mixed emotions that I announce Glenn Frommer’s intent to retire from Mauser Packaging Solutions at the end of 2019. Since joining the company in 2015, Glenn’s direction of the Large Packaging business has resulted in an increase in business unit earnings by more than 70%. Glenn has graciously agreed to stay with the Company as a consultant in 2020 working on specific special projects reporting to me. Although Glenn will be still around, please join me in wishing him a long and healthy retirement.

At this time, the decision has been made to consolidate the Large Packaging and North American Reconditioning business units to further achieve our “one company” vision.

Three key components of our vision are to:

• Partner with customers to provide unmatched quality and customer service;
• Operate current business and future acquisitions as one global and integrated platform;
• Lead the industry in recycled content creation by leveraging our unique, closed-loop service model.

The consolidation of Large Packaging and North American Reconditioning will result in a streamlined sales and operational structure to better position the company to support and serve the customer. Synergies of the consolidation will be realized immediately as we homogenize processes and our supply chain under the new unified business unit. Dave Vergo, current President of the Reconditioning business unit, will lead the consolidated business unit based out of Oak Brook, Illinois.

Similar to the business unit consolidation in North America, we are also consolidating International Reconditioning into Mauser International. This unification will provide customers with one sales representative and common messaging from Mauser Packaging Solutions. International Reconditioning and Mauser International have worked cooperatively for many years, so we expect a smooth transition and minimal impact to the team(s). Michael Steubing, President Mauser International, will lead the consolidated International business with Ernest van den Boogerd, Head of Reconditioning Europe, reporting to Michael.

New organizational structures for the consolidated business units are accessible on www.mausernow.com and are effective Monday, November 25, 2019. We will look to rename the business units in the first quarter of 2020.

A series of conference calls will be held next week to learn more about the new organizational structures and how consolidation will enable us to sharpen our focus on customers, solutions, and responsiveness to drive revenue and margin improvement.

I am quite confident that by reducing the number of business units we will create greater efficiency across the business. Thanks for your cooperation as we make these organizational changes and, as always, thank you to each of my colleagues for all you do for our Company.

Sincerely,

Ken Roessler
President & Chief Executive Officer
Mauser Packaging Solutions