Avery Dennison Corp. (NYSE: AVY) announced a leadership change in its Materials Group following the resignation of Ryan D. Yost, who had been serving as President, Materials Group. Yost notified the company on May 29, 2026, that he would resign to accept another opportunity. He continued in the role through May 31, 2026, and is expected to leave Avery Dennison on June 12, 2026. The company’s board of directors elected Danny G. Allouche as President, Materials Group, effective June 1, 2026. Allouche, 52, had been Avery Dennison’s Senior Vice President and Chief Strategy and Corporate Development Officer since August 2022, a position he ceased holding on May 31, 2026. He also served as interim chief financial officer from November 2024 through March 2025. Allouche is a long-tenured Avery Dennison executive, having joined the company in August 2010 and held several roles of increasing responsibility. Before becoming senior vice president and chief strategy and corporate development officer, he served as Vice President and CSDO from April 2021 to July 2022, Vice President, Corporate Development from May 2016 to March 2021, and Vice President, Treasury and Corporate Development from August 2015 to May 2016. In connection with his appointment, the board’s Talent and Compensation Committee approved several compensation terms. Allouche’s annual base salary will remain unchanged at ILS 1,989,960, which the company said was approximately $667,123 using the average monthly exchange rate for May 2026. His target Annual Incentive Plan opportunity also remains unchanged at 60% of base salary. His target annual long-term incentive opportunity, however, will increase from 180% to 200% of base salary. To implement the higher 2026 long-term incentive level, the committee approved a supplemental 2026 LTI award equal to 20% of base salary, to be granted on September 1, 2026. The supplemental award will be delivered 60% in performance units and 40% in restricted stock units, with the same performance objectives and/or vesting criteria as the annual LTI award granted on March 1, 2026. The committee also approved a special long-term incentive award for Allouche consisting of restricted stock units with a target grant-date fair value of $500,000. That award is also scheduled to be granted on September 1, 2026, and will cliff-vest on June 1, 2029, subject to Allouche’s continued employment through the vesting date. The filing did not report any open-market stock purchase or sale, share count, transaction price, or insider transaction code. Avery Dennison said Allouche will continue to be eligible to participate in the company’s executive severance plan and key executive change-in-control severance plan. The company also furnished a June 4, 2026 press release announcing Allouche’s new role as Exhibit 99.1 to the Form 8-K, with the personnel change reported under Item 5.02 covering departures, elections, appointments, and compensatory arrangements of certain officers.