Cavotec SA's previously announced strategic plan and new organisational structure — based on two distinct Business Units (BU), Ports & Maritime and Airports & Industry — entered into effect on January 1, 2017.
The new structure will also form the basis of the company's financial reporting going forward, in line with IFRS requirements.
- The Ports & Maritime BU will be headed by Gustavo Miller, former Cavotec APAC/AMER COO, who has been nominated as BU COO for the unit, with full Profit & Loss (P&L) responsibility.
- The Airports & Industry BU will be headed by Juergen Strommer, former EMEA COO, who has been nominated as BU COO for the unit, with full P&L responsibility.
Internally, both BUs will be supported by the newly nominated Supply Chain COO, Patrick Rosenwald, (already Cavotec CTO), as well as the other members of the Senior Management Team, comprising Kristiina Leppanen, (CFO & IR), Ester Cadau, (CHRO), Yann Duclot, (CMSO), and Giorgio Lingiardi, (CIO).
"With the Strategic Plan to guide us, we will be able to focus on our strengths more effectively, and continue building acompany ready to meet future goals within the next five years," says Ottonel Popesco, Cavotec CEO.
Cavotec's stated goal to 2021 is to become a EUR 500 million global company, with EBIT of more than 12 per cent.
Cavotec will focus on completing its transformation from an engineering and manufacturing company to a global system and solutions provider — a leading partner, trusted for its world wide operational and innovation excellence, thereby realising sustainable growth and creating shareholder value.
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The information in this release is subject to the disclosure requirements of Cavotec SA under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on January 2, 2017, 08:30 CET.
Cavotec is a global engineering group that manufactures power transmission, distribution and control technologies that form the link between fixed and mobile equipment in the Ports & Maritime and Airports & Industry sectors. To find out more about Cavotec, visit our website at cavotec .com.