Ahlstrom Corporation STOCK EXCHANGE RELEASE October 24, 2014 at 12.30 EET
Ahlstrom simplifies its structure and organization for faster execution and profitability improvement
Ahlstrom will simplify its structure and organization to enable faster execution and stronger accountability within business areas. The aim of the change is to accelerate profitability improvement. The new structure will be effective as of January 1, 2015. In addition, the composition of Ahlstrom's Executive Management Team will change with immediate effect.
Ahlstrom's new organizational structure will consist of three business areas: Filtration, Building and Energy, and Food and Medical. These business areas will have stronger operational alignment, including responsibility for sales and marketing, technical customer service, product development and operations.
"The changes in operational and management structure will help to clarify the priorities for each business. I believe that we can facilitate faster execution and optimize our resources by strengthening accountability in the business areas close to our customers and markets", states Marco Levi, President & CEO.
Executive Management Team appointments
The following appointments in the Executive Management Team of Ahlstrom have been made:
- Sakari Ahdekivi, CFO, responsible for Finance and Controlling, Information Technology and Communications
- Ulla Bono, Executive Vice President, Legal, General Counsel
- Fulvio Capussotti, EVP, Building and Energy, responsible for the wallcovering, flooring and composite businesses
- Omar Hoek, EVP, Food and Medical, responsible for the food packaging, masking tape and medical businesses.
- Jari Koikkalainen, EVP, Filtration, responsible for the transportation filtration and advanced filtration businesses
- Nadia Stoykov, EVP, Commercial Excellence, Customer Service and Sourcing.
- Päivi Leskinen, 49, M.Sc. (Soc.) will assume the role of Executive Vice President, Human Resources and member of the EMT. She has held several HR management positions at ABB, currently as Global HR Business Partner, EMEA, Ventyx, ABB Technology Ltd. She will join Ahlstrom in the first quarter of 2015.
All EMT members will report to Marco Levi, President & CEO.
- Paul Stenson is appointed EVP, Filtration Product Development, reporting to Jari Koikkalainen. Paul will also maintain responsibility for aligning product and technology development capabilities as well as portfolio development between the three Business Areas.
- Roberto Boggio has been appointed EVP, Operations, Food and Medical. Roberto will also assume responsibility for aligning operations, including manufacturing, engineering and logistics, within the three Business Areas. He will report to Omar Hoek.
- Arnaud Marquis will assume the role of Vice President, Wallcover and Poster businesses, reporting to Fulvio Capussotti.
- Paul, Roberto and Arnaud will step down from the EMT, and Paul and Roberto will become members of the Extended Executive Team which will be established to work in close collaboration with the EMT.
- Following the changes, Paula Aarnio, EVP, HR & Sustainability; William Casey, EVP, Regional Sales, Americas; Rami Raulas, EVP, Regional Sales EMEAI, and Luc Rousselet, EVP, Supply Chain, will pursue other opportunities outside Ahlstrom and will leave the EMT.
"Let me extend my thanks to Paula, William, Rami and Luc for their valuable contribution to the development of the company during the last years. I wish them all the best in their future challenges," Marco Levi continues.
Changes in segment reporting
Ahlstrom's three new business areas, Filtration, Building and Energy, and Food and Medical, will form the new financial reporting segments of the company. The changes are effective starting from January 1, 2015. The company plans to publish restated financial segment information before publishing its January-March 2015 interim report on April 28, 2015.
For more information, please contact:
Tel: +358 10 888 4757
Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. We aim to grow with a product offering for clean and healthy environment. Our materials are used in everyday applications such as filters, medical fabrics, life science and diagnostics, wallcoverings and food packaging. In 2013, Ahlstrom's net sales from the continuing operations amounted to EUR 1 billion. Our 3,500 employees serve customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.