Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On August 8, 2022, Sonoco Products Company (the "Company") promoted Aditya J.
Gandhi to the position of Chief Accounting Officer, effective as of August 9,
2022. As Chief Accounting Officer, Mr. Gandhi will have responsibility for all
accounting functions and enterprise-wide financial reporting to the U.S.
Securities and Exchange Commission. Mr. Gandhi will succeed James W. Kirkland,
who left the Company on August 8, 2022, as the Company's principal accounting
officer. The Company thanks Mr. Kirkland for his years of service. Mr. Kirkland
will participate in the Company's retirement benefits and did not depart as a
result of any disagreement with the Company or its Board of Directors relating
to the Company's operations, policies or practices or any issues regarding its
accounting policies or practices.
Mr. Gandhi, age 42, joined the Company in November 2021 as Assistant Corporate
Controller. Mr. Gandhi joined the Company from WestRock Company, a multinational
provider of paper and packaging solutions, where he served as Segment
Controller, Consumer Packaging from October 2020 to October 2021, overseeing a
team of approximately 80 individuals and the financial statements of a segment
with multi-billion-dollar revenues and operations in 12 countries, and as Senior
Director, Technical Accounting from January 2018 to October 2020, in which role
he led the organization's technical accounting function, among other
responsibilities. Prior to WestRock, Mr. Gandhi served as a Senior Technical
Advisor in General Electric Company's Corporate Treasury group and in a variety
of roles at Deloitte & Touche LLP and its affiliates. Mr. Gandhi holds a
Bachelor of Commerce degree in Accounting, Finance and Economics from the
University of Mumbai. He is also a Certified Public Accountant (CPA) and a
Chartered Accountant with The Institute of Chartered Accountants of India.
In connection with his promotion to Chief Accounting Officer, Mr. Gandhi will be
granted an award of restricted stock units under the Company's 2019 Omnibus
Incentive Plan with a grant date value equal to $100,000, which award will be
eligible to vest in full on the third anniversary of the date of grant, subject
to Mr. Gandhi's continuous employment through such vesting date.
There are no family relationships between Mr. Gandhi and any director, executive
officer or person nominated or chosen by the Company to become a director or
executive officer of the Company within the meaning of Item 401(d) of Regulation
S-K. There are no arrangements or understandings with any other person pursuant
to which Mr. Gandhi will be appointed as the Company's Chief Accounting Officer.
Mr. Gandhi has no direct or indirect material interest in any transaction
required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
On August 9, 2022, the Company issued a press release announcing the promotion
of Mr. Gandhi to the position of Chief Accounting Officer as described herein. A
copy of the press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 of this Current Report on Form
8-K, including Exhibit 99.1 hereto, shall not be deemed to be "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or otherwise subject to the liabilities of that Section, and
shall not be deemed to be incorporated by reference into any filing of the
Company under the Securities Act of 1933, as amended, or the Exchange Act,
except as may be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release of Sonoco Products Company, dated August 9, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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