Sonoco Elects Barry Saunders as VP and CFO, Charles Hupfer to Retire

April 21, 2011 - Sonoco announced that Barry L. Saunders has been elected vice president and chief financial officer, effective May 1, 2011. He will also join the company’s executive committee

Saunders, 52, who currently serves as Sonoco's vice president, corporate controller and chief accounting officer, will replace Charles J. Hupfer, senior vice president, who has served as chief financial officer since May 2002. Hupfer will be retiring after reaching the age of 65 in May 2011, capping a 35-year finance career with the company.

Saunders joined Sonoco in 1989 after working as an audit manager with Ernst & Young. He worked in leadership positions in the Company’s Treasury department for seven years before becoming director of corporate reporting and accounting. He then moved to Brussels, Belgium, for four years as director of finance for the Company’s European operations before returning as staff vice president and global controller of the Company’s Industrial businesses. He was promoted to staff vice president and corporate controller in 2003 and has been responsible for corporate accounting, financial reporting and all global business unit finance. He was elected vice president, corporate controller and chief accounting officer in 2008. A resident of Hartsville, S.C., Saunders holds a B.S. in accounting and an MBA from the University of South Carolina. He is a Certified Public Accountant.

Hupfer joined Sonoco in November 1975 as manager of financial reporting after working six years for Coopers & Lybrand. He became director of international finance in 1980 and director of tax and audit in 1985. In 1988, he was promoted to treasurer then was elected vice president, secretary and treasurer in 1995. He was elected chief financial officer in 2002 and senior vice president in 2005. He holds a B.S. in accounting from the University of North Carolina/Chapel Hill and an MBA in management from the University of North Carolina/Charlotte. He is a CPA and a Certified Management Accountant. He resides in Hartsville and is chairman of the Byerly Foundation and serves on the Board of Trustees for Coker College.

SOURCE: Sonoco