Stock Exchange Release
March 9, 2017 at 10.00 am (CET+1)
Kemira Oyj: Changes in organizational structure and management board
Kemira will merge the Municipal & Industrial and Oil & Mining segments into one new segment Industry & Water. Kemira's new organization will consist of two segments: Pulp & Paper (revenue in 2016: EUR 1,450 million) and Industry & Water (EUR 910 million). The main objectives of the change are to simplify Kemira's way of working and further improve service to its customers. Kemira will also start planning to adjust its organizational structure overall to support the two segment model and seek further efficiencies.
The planned changes are expected to improve efficiency and deliver annual savings between EUR 15-20 million with a full run-rate by the end of 2017.
The target date for the new organizational structure is June 1, 2017. Kemira will publish financial figures according to the new segment structure from the second quarter in 2017 onwards. Restated financials for the new segment will be published before the end of June 2017.
"The planned change focuses on improved customer service and simplified ways of working. We want to respond faster to our customers' needs. In addition, by merging two segments into one, we create a bigger and stronger segment, with around EUR 910 million in revenue. Oil & gas and mining remain our key customer industries, and we further strengthen our position in water treatment," says Kemira's President & CEO Jari Rosendal.
"We continue to implement our strategy, and this is an additional important step forward in achieving our strategic target to grow above-the-market with reaching an operative EBITDA margin level between 14-16%," continues Rosendal.
Kemira Oyj's Management Board as of June 1, 2017
Jari Rosendal, President and CEO
Kim Poulsen, President, Pulp & Paper segment
Antti Salminen, President, Industry & Water segment
Petri Castrén, CFO
Heidi Fagerholm, CTO
Esa-Matti Puputti, EVP, Operational Excellence
Eeva Salonen, EVP, Human Resources
Jukka Hakkila, Group General Counsel, will continue to act as the Secretary to the Management Board and as Deputy CEO.
Due to the planned organizational changes, Tarjei Johansen, President, Oil & Mining segment, will leave the company during March, 2017. Antti Salminen, currently President, Municipal & Industrial segment, will also act as the interim President, Oil & Mining segment and region Americas from March 9, 2017 until the segments are merged.
For more information, please contact:
Tero Huovinen, SVP, Communications and Corporate Responsibility
Tel. +358 10 862 1980
Olli Turunen, Vice President, Investor Relations
Tel. +358 10 862 1255
Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers' product quality, process and resource efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2016, Kemira had annual revenue of around EUR 2.4 billion and 4,800 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.