Ball Corporation announced that Scott C. Morrison, 61, executive vice president and chief financial officer, will retire from the role after more than two decades with the company.  

Howard Yu, 51, has been named to succeed Morrison as executive vice president and CFO, starting Sept. 25. 

Morrison will remain with the company as a senior advisor to ensure a smooth transition and in support of the successful completion of the proposed Aerospace transaction.

“As part of Ball’s commitment to long-term strategic succession planning, we are pleased to welcome Howard to Ball, and on behalf of our entire team, we thank Scott for his numerous contributions to our company and congratulate him on his well-deserved retirement,” said Daniel W. Fisher, chairman and CEO.

Morrison joined Ball in 2000 as treasurer after 16 years in the banking industry. He became vice president and treasurer in 2002 and assumed increasing roles of responsibility including SVP and CFO in 2009, dual roles including interim COO, global beverage packaging, in 2014, and ultimately was promoted to EVP and CFO in 2020.

Fisher continued: ”Throughout his tenure, Scott was instrumental in executing our EVA-centric financial and risk management strategies and developing a best-in-class global finance organisation, which enabled the company to thrive through various economic cycles over the past two decades. 

“His experience and straightforward approach to engaging with and serving our stakeholders guided our company through multiple successful M&A transactions and periods of unprecedented financial volatility during the great financial crisis and the recent global pandemic. By applying his ownership mindset, disciplined approach to capital allocation and deep knowledge of our company he has generated significant value for our shareholders.”

Yu most recently served as SVP and CFO for Envista, a publicly traded global company and spin-off of Danaher. Throughout his 22-year Danaher and Envista career, Yu served as CFO for multiple global divisions in Asia, Europe, and Latin America where he led successful M&A and systems transformations through varied global economic environments to drive shareholder value creation. Prior to joining Danaher, he worked in finance at Hewlett-Packard and as Senior Auditor at Deloitte & Touche.

“With his shared values and proven leadership, global financial acumen, experience and capital allocation discipline, Howard is a perfect complement to our team as we continue working to achieve sustainable growth and deliver value,” Fisher added.