Austrian packaging company Constantia Flexibles will be launching a major restructuring as of 1 Jan 2018, which will see its regional management offices in Houston, US, and Dubai, UAE, shut down.
The company announced 22 Nov that the new structure and resulting managerial changes follows its €1.15bn sale of its Labels Division at the end of October to Multi-Color Corp. as well as its decision to expand its Food and Pharma businesses.
As of the new year, Constantia will have two divisions of Food and Pharma which will be headed by the executive vice presidents (EVPs) Stefan Grote and Pierre-Henri Bruchon respectively.
With the closure of management offices in the US and Dubai, EVPs for food North America, Stefan Bogoll, and for food emerging markets, Friedrich Humer, will step down from their positions.
“Our new and lean divisional structure will increase flexibility, reduce complexity, lower costs, and speed up decision-making processes, which ultimately benefits all our customers worldwide,” said CEO Alexander Baumgartner commenting on the restructuring plans.
The company’s future Executive Committee will consist of CEO Alexander Baumgartner, CFO Stephan Kühne, the two divisional EVPs Stefan Grote and Pierre-Henri Bruchon, executive director for human resources, Michael Müller, as well as senior vice president operations, Thomas Eck.
Constantia Flexibles is the world’s fourth largest producer of flexible packaging, with over 7,000 employees and 32 sites in 18 countries.