Elopak welcomes Manuel Arbiol and Marianne Ødegaard Ribe to the Board

Elopak welcomes Manuel Arbiol and Marianne Ødegaard Ribe to the Board

We are excited to welcome Manuel Arbiol and Marianne Ødegaard Ribe to the company's Board of directors.

Manuel has been an observer on the Board since 2020 and brings a wealth of experience as an investment professional at Ferd Capital - Elopak's former parent company and largest shareholder with ~52% ownership. Ferd manages a portfolio of 20 companies across multiple industries. Manuel graduated from ESADE Business School (Barcelona) with a degree in business administration and holds an MBA from London Business School.

Marianne has enjoyed a fascinating career in retail and other industries covering fast-moving consumer goods, particularly hygiene products, food and beverages. She has a strong track record in innovation, marketing, sales and business development. Marianne has previously served as President of NorgesGruppen Servicehandel and is currently the CEO of Ringnes AS, Norway's largest beverage supplier and part of the Carlsberg Group. Marianne holds a master's degree in business and economics from the Norwegian School of Management.

We spoke to Manuel and Marianne to learn more about their background and hear why they're excited to be joining the Elopak team.

What appealed to you in taking up this role and what makes you excited to be joining the Elopak team?

Manuel: There are many elements to be excited for at Elopak! Today the company enjoys a strong foundation as demonstrated by its solid operational and commercial performance in 2023, supported by its successful strategy execution and strengthened positioning. It is very positive to see the company delivering ahead of the targets communicated during the IPO in June 2021. Furthermore, the company's prospects are bright, with several growth avenues in Americas, MENA, India and Plastic to Carton to name a few, combined with a robust balance sheet with low debt levels.

Marianne: I am drawn to Elopak's long and proud traditions, its leadership in the packaging sector, and its solid financial performance coupled with strategic growth initiatives. I strongly believe in integrating the perspectives of people, planet and profit in the long term and sustainable value creation.

What particular experience will you bring to the Elopak Board of Directors?

Manuel: Strategy, mergers and acquisitions, and capital allocation are some of the topics where I can contribute the most. Furthermore, I am a Spanish national with previous international work experience and serve as a board member in another Ferd portfolio company in Finland, which enables me to bring an international perspective to the topics discussed.

Marianne: I will bring my experience in innovation, marketing, sales, and business development, along with many years of leadership in various regional and global organizations.

Manuel, what does the change from board observer to member mean for you?

It is a significant step up in responsibility for me. A board observer is not a board member but an individual who can attend and actively participate in the board of directors meetings. They have access to all the information provided to other board members during meetings, but a board observer is not allowed to vote on topics up for discussion.

Becoming a board member means being a part of the governing body of Elopak, guiding strategic directions, overseeing the business performance and management and ensuring a sustainable future for the organization and all of its stakeholders (e.g. employees, customers, shareholders).

I have been an observer on the Board since 2020 and this has given me the possibility to get to know the company and the industry in detail and hence allows me to contribute as a board member from the start.

What do you think makes Elopak a leading company in the packaging sector?

Manuel: Elopak has a long history in the carton sector dating back to its origins in 1957 when it was started by Johan H. Andresen and Christian August Johansen and its key product, the iconic Pure-Pak® gable top carton, has stood the test of time.

The company has showed a strong focus on sustainability and product innovation for a number of years, as demonstrated by product launches such as cartons with Natural Brown Board in 2017 and the Pure-Pak® eSense carton in 2022 to name a few.

Marianne: The combination of innovative packaging solutions, commitment to sustainability, extensive market presence, a customer-centric approach and ongoing technological advancements.

Marianne, what important consumer trends do you think Elopak is capitalizing on?

Elopak should stay attuned to general consumer trends as they are integral to everyday life. Specifically, I believe sustainability and environmental consciousness, as well as convenience and on-the-go consumption, should be prioritized.

Manuel, what has surprised you since joining Elopak and why?

Cartons are a much more complex and advanced product than one might initially think. I had the chance to visit the Elopak Technology Center in Spikkestad and was impressed by the breadth and depth of knowledge of the Elopak employees developing and testing existing and new products.

Furthermore, I also visited the Elopak plant in Terneuzen and was impressed by the automation and efficiency level throughout the entire production process.

Marianne, what are you most looking forward to at Elopak?

I am looking forward to working with the management team and the Board to continue Elopak's strong performance and drive sustainable value growth.

What do you like to do in your free time?

Manuel: I am a father of two young kids aged 7 and 4 so a lot of time goes to family matters. I very much enjoy the mountains and snow, so I try to spend the winter skiing as much as possible (both downhill and cross-country) and playing padel tennis in the summer months.

Marianne: I like spending time with family and friends and doing various outdoor activities, especially running and sailing. I also enjoy traveling and reading.

Thank you to both, and a warm welcome to Elopak's Board!

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