Sonoco also announced plans to appoint Julie Albrecht who will be named VP and CFO, effective following Saunders’ retirement. On March 1, 2019, Albrecht is expected to assume CFO duties for the company’s 2019 financial year and report to Rob Tiede, president and CEO. She is a member of the Company’s Executive Committee.
Albrecht joined Sonoco in March 2017 and has served as corporate VP, treasurer and assistant CFO, holding responsibility for the company’s treasury, tax and risk management functions. During that time, she has been responsible for the company’s relationships with the credit rating agencies and commercial banks and has handled financings for four acquisitions totaling approximately $690 million. She also has been instrumental in the company’s efforts to drive significant improvement in cash flow from operations and free cash flow in 2018 and has been responsible for the management of the company’s retirement benefit plans.
Albrecht spent nearly 20 years at Goodrich Corporation/United Technologies Aerospace Systems, progressing through several finance positions, including assistant treasurer while at Goodrich. In 2012, Goodrich was acquired by United Technologies, and Albrecht became finance director of an $800 million business unit and also led financial planning and analysis for a $3.5 billion aftermarket business. Prior to joining Sonoco, she was VP, finance, investor relations and treasurer for Esterline Technologies in Bellevue, WA. Albrecht began her career in public accounting with PricewaterhouseCoopers.
Saunders became Sonoco’s CFO in May 2011. In this position, he led the company’s financial and accounting operations on a global basis and more recently took over leadership of Sonoco’s Business Technology function. Saunders joined Sonoco in 1989 after working as an audit manager with Ernst & Young. He was promoted to staff VP and corporate controller in 2003 and became VP, corporate controller and chief accounting officer in 2008.
“Barry has played a crucial role in driving profitable growth across Sonoco’s Consumer and Industrial businesses, as well as being a vital part of the executive leadership team during the development and execution of our current business strategy,” said Tiede.