Outokumpu Renews Operational Model and Leadership
06/19/2014 - Outokumpu announced today changes in its operational model and Leadership Team.
The purpose of the changes is to increase customer and market orientation, drive business performance and increase speed and accountability.
From September 1, 2014 Outokumpu will consist of five business areas with sales, production, and profit responsibility:
Special Coil operations in Avesta and Nyby that have also been part of the Specialty Stainless business area will become part of Coil EMEA business area. Consequently, Specialty Stainless will cease to exist as a business area.
Outokumpu plans to report its third-quarter financial report according to a new segment structure. In addition to the five business areas, Outokumpu will continue to have strong group functions to drive group-wide efficiency and alignment in key business processes.
Says Mika Seitovirta, Outokumpu CEO: “During the past 18 months, we have focused heavily on restructuring and improving our financial position. We have made solid progress in our cost savings and ramp-ups, and significantly strengthened our balance sheet. While we will determinedly carry out all the ongoing restructuring and efficiency measures, we are at the same time shifting gears to accelerate further improvements in our business performance and customer orientation.”
The new operational model is not directly resulting in new job cuts. However, previously announced cost saving programs and efficiency measures that are planned to result in total reduction of 3,500 jobs globally by the end of 2017 remain valid.
Outokumpu Leadership Team will consist of following members as of September 1, 2014:
From September 1, 2014 Outokumpu will consist of five business areas with sales, production, and profit responsibility:
- Coil EMEA
- Coil Americas
- APAC
- Quarto Plate
- Long Products
Special Coil operations in Avesta and Nyby that have also been part of the Specialty Stainless business area will become part of Coil EMEA business area. Consequently, Specialty Stainless will cease to exist as a business area.
Outokumpu plans to report its third-quarter financial report according to a new segment structure. In addition to the five business areas, Outokumpu will continue to have strong group functions to drive group-wide efficiency and alignment in key business processes.
Says Mika Seitovirta, Outokumpu CEO: “During the past 18 months, we have focused heavily on restructuring and improving our financial position. We have made solid progress in our cost savings and ramp-ups, and significantly strengthened our balance sheet. While we will determinedly carry out all the ongoing restructuring and efficiency measures, we are at the same time shifting gears to accelerate further improvements in our business performance and customer orientation.”
The new operational model is not directly resulting in new job cuts. However, previously announced cost saving programs and efficiency measures that are planned to result in total reduction of 3,500 jobs globally by the end of 2017 remain valid.
Outokumpu Leadership Team will consist of following members as of September 1, 2014:
- Mika Seitovirta, CEO
- Reinhard Florey, CFO (Chief Financial Officer)
- Olli-Matti Saksi, Coil EMEA (as of July 1)
- Michael Wallis, Coil Americas
- Austin Lu, APAC
- Kari Tuutti, Long Products
- Kari Parvento, Quarto Plate
- Pekka Erkkilä, CTO (Chief Technology Officer)
- Johann Steiner, Human Resources, IT, Health and Safety
- Saara Tahvanainen, Communications & Marketing
