Pactiv Evergreen Names Jonathan Baksht as Chief Financial Officer

LAKE FOREST, Ill., May 31, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen PTVEtoday announced that Jonathan Jon Bakshtjoined the company as Chief Financial Officer,effective May 27, 2022. Mr. Baksht serves as a member of Pactiv Evergreen's Executive Leadership Team reporting to its President and Chief Executive Officer, Michael King. Mr. Baksht joins Pactiv Evergreen after having most recently served as Executive Vice President and Chief Financial Officer ofValaris Limited (Valaris), the world's largest global offshore drilling contractor.

Mr. Baksht succeeds Michael Ragen, Chief Financial Officer, whose last day at Pactiv Evergreen was also May 27, 2022.

Mr. Baksht has more than 20 years of strong anddiverse financial experience across multiple industries,including six years as Chief Financial Officer for Valaris.

Mr. Baksht serves as a key strategic partner to Mr. King and his executive leadership team, while overseeing every aspect of the Company's finance function, including accounting,financial planning and analysis, investor relations, tax, treasury and internal audit. He is also responsible for the Company's Information Technology function.

In addition to his dynamic and extensive financial experience, Jon joins Pactiv Evergreen with a growth mindset and a proven track record of leading through times of transformation, integration and growth, said Mr. King. He will lead our talented team to execute our key strategic initiatives, which we believe will better position the Company for future growth.Jon's broad experienceis invaluable to Pactiv Evergreen as we strive to deliver on our purpose of Packaging a Better Future while creating long-term value for all our stakeholders.