As chairman and chief executive officer since December 2006, Al Stroucken has initiated and successfully led Owens-Illinois, Inc., (O-I) through dramatic change. Within the first two years of his tenure, the company shifted its emphasis from driving volumes to enhancing margins, focused solely on glass by divesting its remaining plastics operations and began restructuring its footprint to better leverage capital and enhance free cash flow.
O-I has significantly strengthened its financial stability as a result, increasing earnings nearly fourfold and reducing debt by $2.2 billion. From this position of financial strength, Stroucken is working to create the structural and process change needed to reposition O-I – and glass packaging – as the preferred and most sustainable packaging choice.
Under his leadership, O-I has expanded its global market for glass through acquisitions in Brazil, China and Argentina, and through investments in R&D, marketing and innovation. Stroucken also has established aggressive sustainability targets to dramatically reduce O-I's energy usage and emissions, while increasing use of recycled glass and creating an accident free work environment.
Prior to being named CEO, Stroucken served on O-I's board of directors, a position he had held since August 2005.
Stroucken previously served as chief executive officer and chairman of H.B. Fuller Company, a $1.5 billion global manufacturer of adhesives, sealants, coatings, paints and other specialty chemical products. During his nine-year tenure, Stroucken lead efforts to streamline operations and cut costs, significantly strengthening the company's balance sheet.
Before joining H.B. Fuller, Stroucken spent nearly 30 years with Bayer AG, a diversified international chemical and pharmaceutical company based in Leverkusen, Germany, in various leadership positions.
Stroucken serves on the board of directors for Baxter International Inc., a global medical products and services company. Stroucken is a passionate advocate for early childhood education and has a long-standing commitment to the United Way. Under his leadership, O-I employees were honored with the United Way of Greater Toledo's Spirit of Caring Award for their 2009 service to the Toledo community. In 2010, O-I led the area in United Way giving.