Sonoco names new CFO

Sonoco, a diversified global packaging company in Hartville, South Carolina, plans to appoint Julie Albrecht as its vice president and chief financial officer (CFO), effective March 1, 2019. 

The company’s current senior vice president and CFO, Barry Saunders, announced plans to retire in March, according to a company news release. Albrecht will assume CFO duties for the company’s 2019 financial year and will report to Rob Tiede, president and CEO. She also serves as a member of the company’s executive committee.

Saunders stepped up as 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 the leadership on the company’s business technology function. According to a Sonoco news release, Saunders joined Sonoco in 1989 after working as an audit manager with Ernst & Young. At Sonoco, Saunders has held various leadership positions over the years. 

“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,” Tiede says. “Barry has built a very strong team of financial leaders throughout our businesses who serve as important business partners across our global operations. I want to personally thank Barry for being a trusted advisor and for his significant contributions to Sonoco throughout his career.”

Albrecht joined Sonoco in March 2017 and has served as its corporate vice president, treasurer and assistant CFO, holding responsibility for the company’s relationships with the credit rating agencies and commercial banks and has handled financing for four acquisitions totaling about $690 million, according to a Sonoco news release. 

Prior to this position, Albrecht spent nearly 20 years at Goodrich Corporation/United Technologies Aerospace Systems.