 "AkzoNobel restructures performance coatings business")
In order to improve efficiency and drive performance, AkzoNobel has decided to re-organise its Performance Coatings Business area. The simplified new structure - due to become fully operational in January 2015 - will reduce the number of global management layers. As a result, performance coatings will be managed through seven strategic market units under the leadership of Executive Committee Member Conrad Keijzer. The seven units - Marine Coatings, Metal Coatings, Powder Coatings, Protective Coatings, Specialty Coatings, Vehicle Refinishes and Wood Coatings - will focus on specific customer segments and technologies.
“Following the launch of our new strategy in 2013, we have initiated a process of change throughout the organisation. This planned reduction in management layers will not only enhance decision-making efficiency, but we will also create an organization that is more customer focused, agile and lean,” said Ton Buchner, CEO, AkzoNobel.
He added, “We consider these to be key elements with regard to driving leading performance. Because in addition to delivering on our organic growth and operational excellence strategy, the changes will also improve our profitability and help to deliver on our 2015 targets and beyond."
The costs associated with this reorganisation are included within the guidance of at least Euro 250 million of total restructuring charges for 2014.
Performance Coatings is one of three Business Areas within AkzoNobel, operating alongside Decorative Paints and Specialty Chemicals. In 2013, Performance Coatings generated revenues of Euro 5.6 billion and an operating income of Euro 525 million, with 21,400 employees located worldwide.
“Following the launch of our new strategy in 2013, we have initiated a process of change throughout the organisation. This planned reduction in management layers will not only enhance decision-making efficiency, but we will also create an organization that is more customer focused, agile and lean,” said Ton Buchner, CEO, AkzoNobel.
He added, “We consider these to be key elements with regard to driving leading performance. Because in addition to delivering on our organic growth and operational excellence strategy, the changes will also improve our profitability and help to deliver on our 2015 targets and beyond."
The costs associated with this reorganisation are included within the guidance of at least Euro 250 million of total restructuring charges for 2014.
Performance Coatings is one of three Business Areas within AkzoNobel, operating alongside Decorative Paints and Specialty Chemicals. In 2013, Performance Coatings generated revenues of Euro 5.6 billion and an operating income of Euro 525 million, with 21,400 employees located worldwide.