Stora Enso has reorganised its business operations with immediate effect, with the company expanding from four divisions to eight.
The Swedish forest products company is now to have separate divisions covering merchants, wood products, consumer board, industrial packaging, magazine paper, newsprint, fine paper and North America.
Chief executive officer Jouko Karvinen said the change will help improve Stora Enso’s North American operations and enhance the overall productivity and efficiency of the company.
“The main objectives of the reorganisation are to give business area leaders and their teams clear responsibility for improving financial performance, remove layers of management and to speed up decision-making,” said Mr Karvinen.
“The new structure will further focus the portfolio analysis work and facilitate scalability for the future, strengthening Stora Enso’s position with regard to potential industry consolidation.”
The immediate change to the new struc-ture means that the company’s third quarter results will be based on the new eight-area structure, and will include a €1.3bn impairment charge relating to the reorganisation,
A new executive management team has also been created, with Elisabet Salander Björklund responsible for wood products, John Gillen taking care of North America, Mats Nordlander heading up the consumer board and merchants sectors, Veli-Jussi Potka leading the industrial packaging area, Hannu Alalauri taking responsibility for magazine paper, Juha Vanhainen overseeing the newsprint division and Aulis Ansaharju in charge of fine paper.
