OUTOTEC OYJ STOCK EXCHANGE RELEASE NOVEMBER 20, 2015 at 9:00 AM
Changes in Outotec's operational structure and Executive Board
Outotec will as of January 1, 2016 change its operating model, corporate structure and composition of Executive Board to adapt its operations to the further weakened market situation. The change aims at strengthening customer focus and service business growth, as well as reducing fixed costs by streamlining the operating model.
In the new operating model, Outotec's business operations will consist of two Business Units - Minerals Processing and Metals, Energy & Water - and a Markets Unit. The Business Units continue as reporting segments and the Markets Unit will be responsible for managing customer relationships, geographical Market Areas as well as spare & wear part and maintenance service business. Current regional structure will be dismantled and global support functions will be consolidated.
Changes in the Executive Board
The Executive Board members and their responsibilities as of January 1, 2016 will be:
- Mr Pertti Korhonen, President and CEO
- Dr Kalle Härkki, Executive Vice President, President of Minerals Processing Business Unit
- Mr Robin Lindahl, Executive Vice President, President of Metals, Energy & Water Business Unit
- Mr Adel Hattab, Executive Vice President, President of Markets Unit
- Mr Jari Ålgars, Chief Financial Officer, Finance & Control
- Ms Nina Kiviranta, Senior Vice President, Legal, Contract Management & Corporate Responsibility
- Ms Pia Kåll, Senior Vice President, Strategy, Marketing & Operational Excellence
- Ms Kirsi Nuotto, Senior Vice President, Human Resources & Communications
"The global market in minerals and metals processing has further weakened during recent months. Therefore we need to adjust our operations and improve our cost structure correspondingly. The targeted EUR 70 million savings are so significant that structural changes are necessary. I am convinced that the new operating model will strengthen Outotec's focus on customers and service business, and will result to targeted savings in fixed costs," says Pertti Korhonen, President and CEO of Outotec.
For further information please contact:
Pertti Korhonen, CEO
Tel. +358 20 529 211
Jari Ålgars, CFO
Tel. +358 20 529 2007
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