Libbey, a tableware manufacturer, has named Michael Bauer as the company’s next CEO and newest board member, effective from March 25, 2019.
William Foley, Libbey’s current CEO and chairman of the board, will officially retire as CEO next week but will remain with the company as executive chairman of the board.
Bauer has more than 30 years of experience with leading consumer product manufacturers and most recently served as the president of The Master Lock Company.
John Orr, Libbey’s lead independent director, said: “As part of Libbey’s succession planning process, which has been underway for some time, we undertook an extensive search and our board believes that Mike is the ideal candidate to succeed Bill.”
Bauer has experience in leading strategy, growth and margin expansion in multi-channel, global consumer product organizations, which the company said makes him a “strong fit” for the position.
Orr added: “In addition, Mike’s considerable knowledge of finance, supply chain, marketing, manufacturing and e-commerce will complement our team and help us continue to drive profitable growth, operational excellence and organizational excellence.”
Bauer is said to be “truly excited” to be joining the firm and looks forward to building upon the “foundational elements” that Foley and the team have put in place over the last few years.
Bauer said: “I look forward to working with the executive leadership team and the board of directors to continue building a strong, dynamic and agile organization that’s focused on meeting the needs of our end-users, channel partners and shareholders.
Commenting on Foley’s leadership over the past three years, Orr said: Bill has overseen a critical period in Libbey’s commercial transformation, including the creation of our highly successful and expanding e-commerce platform.
“His leadership has helped to maintain and grow our leading industry position and we want to thank Bill for his hard work and dedication. We are also glad that we’ll continue to have his insights and contributions as an ongoing member of our board of directors.”
Based in Toledo, Ohio, Libbey is one of the largest glass tableware manufacturers in the world with manufacturing plants in the US, Mexico, China, Portugal and the Netherlands.