Helsinki, Finland, 2013-09-30 09:00 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock Exchange Release 30 September 2013 at 10.00 (EEST)
SUOMINEN RESHAPES ITS CORPORATE STRUCTURE AND CHANGES THE COMPOSITION OF ITS CORPORATE EXECUTIVE TEAM
Suominen Corporation reshapes its corporate and management structure and reorganizes its operations to further accelerate the implementation of its strategy. Through the changes, Suominen aims to achieve a more focused, transparent and agile operating model, which enables the company to further strengthen its ability to generate new business.
“Reshaping the structure and operating model is an essential and at the same time logical step in the strategic path we have chosen. To implement our strategy, and particularly its “In the Lead” cornerstone, a significant change in our way of working is required. Among other important objectives, we seek to speed up our capability to create new business and launch new products with higher value add to the market. With the more focused and customer derived operating model, we further enhance our ability to cater for specific customer needs and thereby accelerate both our own and our customers’ business; and ultimately improve our profitability”, says Nina Kopola, President & CEO of Suominen Corporation.
Nonwovens business unit will be divided into two business areas
Suominen’s largest business unit, Nonwovens, will be divided into two new business areas, Convenience and Care, as of 1 January 2014.
Convenience business area will focus on serving customers in wiping, travel and catering businesses. Based on 2012 sales, the annual net sales of Convenience were approximately EUR 322 million. Care business area will focus on customers in medical and hygiene businesses. Based on 2012 sales, the annual net sales of Care were approximately EUR 36 million. Both Convenience and Care will be reported under Nonwovens segment as of 1 January 2014. Factually, the content of the Nonwovens segment is equal to that of the current Wiping segment.
Suominen’s other business unit, Flexibles, has been restructured in order to strengthen its ability to serve its customers better and in a more efficient way. Flexibles will focus on four businesses: bread packaging, tissue wrapping, retail carrier bags and special products. Flexibles business area continues to be reported under Flexibles segment. The net sales of Flexibles were EUR 53 million in 2012.
Changes in the management model and in the Corporate Executive Team
The structural changes will have an impact on Suominen’s management model and to the composition of the Corporate Executive Team of Suominen Corporation (CET), whose primary task is to support the President & CEO in her responsibilities. As of 1 January 2014, the CET will include the following members:
Nina Kopola, President & CEO and Senior Vice President, Care (acting); Chairman of the CET
Tapio Engström, Senior Vice President, CFO
Timo Hiekkaranta, Senior Vice President, Convenience; new member
Olli E. Juvonen, Senior Vice President, Flexibles
Larry Kinn, Senior Vice President, Operations North America*; new member
Mimoun Saim, Senior Vice President, Operations Europe* and Sourcing (acting); new member
Hannu Sivula, Senior Vice President, Human Resources
The new members of the CET all have a long and versatile experience in the nonwovens business and are promoted from within the current Suominen Nonwovens business unit. Timo Hiekkaranta acts currently as the Vice President, Sales. Mimoun Saim acts as the Vice President, Operations Europe and Sourcing and Larry Kinn as Vice President, Operations Americas and HSE.
A new body in the Suominen management model is the Corporate Leadership Team (CLT), which will act as of 1 January 2014 as an extended management team supporting President and CEO in the execution of strategic programs and creating functional expertise. In addition to the members of the CET, the CLT will include the following persons:
Anu Heinonen, Vice President, Corporate Communications & IR
Margareta Huldén, Vice President, R&D*
Roberto Pedoja, Vice President, Technology*
Timo Rautakorpi, Vice President, CIO
Saara Söderberg, Vice President, Marketing & Product Management*
The members of the CLT will report to Nina Kopola, President & CEO. The members marked with an asterisk (*) will focus on Convenience and Care business areas.
In accordance with the company’s plans, Mr. Jean-Marie Becker would step aside as Executive Vice President of Suominen Nonwovens and would, consequently, no longer be a member of the Corporate Executive Team as of 1 January 2014. Suominen has already presented Jean-Marie Becker new alternatives for his future career within the company.
SUOMINEN CORPORATION
Nina Kopola, President & CEO
For further information, please contact: Nina Kopola, President & CEO, tel. +358 10 214 300
Suominen in brief
Suominen supplies its industrial and retail customers with nonwovens and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs more than 1,000 people in Europe and in the United States. Suominen’s net sales in 2012 amounted to MEUR 410.4 and operating profit excluding non-recurring items was MEUR 12.9 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.
Distribution:
NASDAQ OMX Helsinki Ltd.
Main media
www.suominen.fi