Berry and Glatfelter Announce Magnera Board of Director Appointments in Connection With Proposed Merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films Business With Glatfelter

CHARLOTTE, N.C., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation $(GLT)$, and Berry Global Group, Inc. $(BERY)$ today announce additional director designees for the board of directors for the combined company. The new directors will be appointed and will begin serving as directors effective upon the closing of the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter. As previously disclosed, upon closing of the transaction, the combined company will be renamed Magnera Corporation ("Magnera").

The Magnera board of directors ("Magnera Board") will consist of nine directors, with five directors designated by Berry, three directors designated by Glatfelter, and the Chief Executive Officer. As previously announced, at closing, Kevin M. Fogarty, current Non-Executive Chair of Glatfelter, will continue in the same role on the Magnera Board and Curtis (Curt) L. Begle, current President of Berry's Health, Hygiene and Specialties Division, will serve as Magnera's Chief Executive Officer and as a Director of Magnera. Glatfelter and Berry today announce the following additional director designees, to also be appointed as of closing:

   -- Bruce Brown, former Chief Technology Officer for Procter & Gamble and 
      current Director of Glatfelter 
 
   -- Michael (Mike) S. Curless, former Chief Investment Officer and Chief 
      Customer Officer for Prologis 
 
   -- Thomas M. Fahnemann, current Director and President and Chief Executive 
      Officer of Glatfelter 
 
   -- Samantha (Sam) J. Marnick, former Chief Operating Officer, President 
      Commercial for Spirit AeroSystems 
 
   -- Carl J. (Rick) Rickertsen, Managing Partner of Pine Creek Partners and 
      current Director of Berry 
 
   -- Thomas (Tom) E. Salmon, former Chief Executive Officer and Chairman of 
      Berry 

Continuing Glatfelter board members were designated by Glatfelter and the others were designated by Berry. Under the transaction agreement, there remains one additional director position for the Magnera Board to be designated by Berry, which designation will take place at a later time.

As a result of these designations, four of Glatfelter's current directors, Kathleen A. Dahlberg, Marie T. Gallagher, Darrel Hackett and J. Robert Hall will retire from the Glatfelter board upon closing of the transaction.

"This announcement is a significant step forward in our process to complete the merger of Glatfelter and Berry's HHNF business and operate as one under the new Magnera name. I am very pleased with the level of expertise, diverse perspectives, and passion this collective group of professionals brings to the Magnera Board. Their leadership and thoughtful contributions will provide tremendous value to our shareholders, customers and employees," said Curt Begle, President of Berry's Health, Hygiene and Specialties division and incoming Chief Executive Officer of Magnera.

"As Chair of Glatfelter's Board of Directors, I have had the privilege of working alongside a very dedicated and talented group of directors during my time on the Board. I want to express my deep appreciation to my fellow directors for their many contributions and exceptional leadership throughout their tenure, always focused on prioritizing shareholder interests while providing trusted oversight to the Glatfelter management team," said Kevin Fogarty, current Non-Executive Chair of the Glatfelter Board and incoming Non-Executive Chair of the Magnera Board.

"Since joining Glatfelter in 2022, I have greatly appreciated the support and valuable insights provided by the Glatfelter Board of Directors as our team navigated a very challenging business environment. Their active engagement has been instrumental in shaping our strategy and positioning Glatfelter for long-term success as we prepare for the next chapter in our history," stated Thomas Fahnemann, Glatfelter's President and Chief Executive Officer.

Additional information about each Magnera director designee can be found below:

KEVIN M. FOGARTY will serve as the Non-Executive Chair of Magnera. Fogarty joined Glatfelter's Board in 2012 and has served as Glatfelter's Non-Executive Chair of the Board since August 2022. He retired as President, Chief Executive Officer and Director of Kraton Corporation, Inc. ("Kraton"), a leading global sustainable producer of specialty polymers and high-value bio-based products, following its sale to DL Chemical in March 2022. Before joining Kraton in 2005, Fogarty spent 14 years with the Koch Industries, Inc. family of companies, where he held a variety of roles, including President for Polymer and Resins at Invista and President of KoSa's Polymer and Intermediaries business. Fogarty serves as non-executive Chair of the Board of Directors of Ecovyst Inc. $(ECVT)$, a leading integrated and innovative global provider of specialty catalysts and services. Fogarty is also a director of OPAL Fuels Inc. (NASDAQ: OPAL), a vertically integrated producer and distributor of renewable natural gas $(RNG)$. He previously served on the Board of Directors of the American Chemistry Council from 2017 through 2022.

Mr. Fogarty has significant experience with manufacturing, international operations, strategic partnerships, public company accounting and financial reporting, and new product development in addition to his experience with strategic planning, operations, risk management, and corporate governance. He has more than ten years of experience as a director of public companies.

CURTIS (CURT) L. BEGLE will serve as the Chief Executive Officer of Magnera. He is currently President of the Health, Hygiene and Specialties Division at Berry Global (NYSE: BERY), one of its four business units. Begle is now leading a $3.4 billion global business within Berry Global. Joining in 1999, Begle has spent his entire career with Berry Global. Rising through various positions of increasing responsibility in sales and leadership, he served as President of Berry's Rigid Closed Top Division from 2009 to 2014 and President of the Engineered Materials Division from 2014 through 2018. Begle has served on the Board of Directors and Executive Committee for the Flexible Packaging Association since 2016 and served as its Chairperson from 2019 to 2021. Begle is also a committed member of the Evansville, Indiana community. He is the current Chairman of the Evansville Regional Economic Partnership, for which he has been a board member since 2016. He has also been appointed to the Evansville Promise Neighborhood Sustainability Council. Begle has served on the Board of Directors for Deaconess Health Systems since 2019. Additionally in 2019, Begle joined the Board of Trustees for the University of Evansville, his alma mater.

Mr. Begle has extensive and long-tenured involvement in the consumer packaging and engineered materials industry. His experience includes leadership of global commercial, operations, supply chain, human resources, and innovation.

BRUCE BROWN is a current member of Glatfelter's Board, which he joined in 2014. He retired in 2014 from his position as the Chief Technology Officer of Procter & Gamble, Inc. ("P&G"), a publicly traded consumer goods company. With 34 years of experience at P&G, Brown's responsibilities included leadership for P&G's Innovation and Technology Program and Global Research & Development. Globally recognized as an innovation thought leader, Brown previously served on the Board of Directors for Nokia Corporation $(NOK)$ from 2012 to 2023 and was the chair of its Personnel Committee. Brown was also a director of Medpace Holdings, Inc. (Nasdaq: MEDP) from 2016 to 2019.

Mr. Brown is a proven leader in innovation, global expansion, and organizational leadership development and he has familiarity with a number of the combined company's products and materials. He brings over three decades of business-building experience to the Board and has more than ten years of experience as a director of public companies.

MICHAEL (MIKE) S. CURLESS is an industry veteran in commercial real estate spanning the industrial, office, retail, healthcare, and data center sectors. From 1995 to 2000 and again from 2010 to 2023, Curless was employed at Prologis, a top 75 company in the S&P 500 with over 1 billion square feet in 19 countries. He originally served as the founding market officer for the Indianapolis and St. Louis operations. He rejoined Prologis on the executive team as the Global Chief Investment Officer with additional responsibility for all customer-related activity. Curless further chaired the Prologis Investment Committee. In 2019, he served as Prologis' first Chief Customer Officer. From 2000 to 2010, Curless was the President and one of four principals at Lauth Property Group, a privately held, national construction and development firm. In this role, he had overall responsibility for operations, development and asset management for the firm. In his early career, Curless served as an associate with the Trammell Crow Company and as a financial analyst with General Electric Company. Curless is a former member of the Young Presidents' Organization and is currently active with Indiana University in multiple capacities. He also serves on the Investment Committee for Sample Gates Management, LLC and is a director for the Western Golf Association, specifically focused on development of Evans Scholar recipients.

Mr. Curless has executive level experience in both private and public companies at the highest level within the organizations. He is a proven leader in the international real estate industry with key experience in corporate strategy, capital markets, human resources, customer experience, and corporate transformation.

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