Corporate restructuring at FLSmidth

Corporate restructuring at FLSmidth
Published: 14 August 2014

Tagged Under: Denmark FLSmidth Restructuring 

FLSmidth has announced a number of organisational structure changes, as well as adjustments to the Group Executive Management.

The new organisation will consist of the four divisions. The Material Handling and Mineral Processing divisions will be merged into a Minerals division. Cement and Customer Services will be maintained as separate divisions. A new Product Companies division will be created to foster globalisation and growth of FLSmidth's unique product brands.

FLSmidth said the new organisational structure increases operational efficiency as each division will have a more homogeneous business model, segmented customer approach and distinct management focus.

"This is an organisational improvement that prepares FLSmidth for the coming upturn by increasing operational efficiency, simplifying the structure, refining management focus and laying out the foundation for globalising our product companies. This gives us a strong platform for future value creation," Group CEO Thomas Schulz says.

Group Executive Management appointments
Following the new divisional structure described above, FLSmidth has appointed new divisional presidents for the Minerals division, the Product Companies division and the Customer Services division.

Manfred Schaffer is appointed

President of FLSmidth's new

Minerals division

Manfred Schaffer has been appointed President of the new Minerals division and member of Group Executive Management. Mr Schaffer (56) will take up the position as Member of Group Executive Management on 1 September 2014 and will prepare the transition to the new Minerals division on 1 January 2015 in close cooperation with the other members of Group Executive Management. From 1 September to 31 December 2014, he will be heading the existing Minerals Processing division.

“I am very pleased that we have managed to get Manfred Schaffer on board. In Manfred Schaffer, we get a global executive with in depth knowledge of the mining industry. Manfred’s task will be to create the strongest project business in the industry, offering customers a new industry standard within minerals projects and systems,” says Chairman of the Board of Directors, Vagn Sørensen.

Brian Day, appointed president

of Customer Services division

Brian Day has been appointed President of the Customer Services division and member of Group Executive Management, effective 1 January 2015.  “With the appointment of Brian Day, we not only strengthen Group Executive Management with solid global service experience and management skills, we also get the perfect succession for current President of Customer Services, Bjarne Moltke Hansen who will be taking up the responsibility of unleashing the substantial growth potential we have in the new Product Companies division, by driving FLSmidth’s product companies to leading global positions in both the cement and minerals industries,” Mr Sørensen added.