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Lindab International AB Announces New Organizational Structure

Wednesday, 18 Sep 2013 02:15am EDT 

Lindab International AB announced that in spring 2013 the Company launched the concept "Back to Basics - into the Future". As part of these efforts, an organizational change will be implemented from October 1, 2013. The Company announced a new organizational structure with increased focus on the local business which will strengthen the Group's total product offering. The Company will capitalize on the synergies between the different product areas and the business area structure will be replaced by a geographically based organization. This also means a change in Lindab's Executive Management. After the reorganization, the Executive Management team will consist of Chief Executive Officer, Chief Financial Officer and General Counsel. An Operational Management team managing the group has been formed, which in addition to the Executive Management team includes nine senior positions, all recruited internally. The one-off costs for the restructuring implies an increase of approximately SEK 10 million to the previously announced one-off costs for the current cost-saving program. Approximately SEK 30 million in one-off costs will be recorded during the third quarter. Lindab will start to report according to the new structure as from the first quarter of 2014. 

Company Quote

-1.2 -1.76%
29 Aug 2014