Ball announces Hoover’s retirement

BROOMFIELD – Ball Corp. on Monday announced it will have a new chief executive early next year.

The Broomfield-based manufacturer said in a press release that John A. Hayes will become chief executive officer of the company at its January 2011 board of directors meeting. He will replace R. David Hoover, who is retiring as an active employee after more than 40 years with Ball. Hoover will remain the company’s chairman.

Hayes, 44, is president and chief operating officer of Ball. He joined the company in 1999. He previously served as president of Ball Packaging Europe. He was an investment banker before joining Ball.

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Hoover, 65, has been Ball’s CEO since 2001. During his tenure, Ball’s stock has provided a total return to shareholders of more than 500 percent. Ball’s sales grew from $3.7 billion in 2000, the year before Hoover became chief executive to $7.35 billion in 2009. Sales in 2010 are expected to approach $8 billion, the company’s statement said.

Ball Corp. (NYSE: BLL) is a supplier of packaging for beverage, food and household products, and of aerospace and other technologies and services, primarily for the U.S. government. Ball Corp. and its subsidiaries employ more than 14,000 people worldwide and reported 2009 sales of more than $7.3 billion including discontinued operations.