Neste restructuring to create renewable polymers unit

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Finnish producer of renewable fuels Neste Corp. has launched a reorganisation bid which will see the company establishing a business unit for renewable polymers & chemicals.

The Helsinki-based company will be dividing its growing ‘renewable products business area’ into three business units and a ‘Renewables Platform’ operation, according to a 19 Feb release.

The units will include Renewable Road Transportation, Renewable Aviation and Renewable Polymers & Chemicals and will be individually run by an executive vice president.

"We see further growth opportunities and demand for renewable and circular solutions not only in road transport but also in… the polymers and chemicals value chain”, said Neste president and CEO Peter Vanacker.

The restructuring move, according to Vanacker, will improve efficiency in serving customers and drive the company’s “growth and sustainability aspirations”.

As part of the move, changes will be made to the responsibilities of the members of Neste’s executive committee, effective 1 May.

Matti Lehmus has been appointed EVP of the Renewables Platform, covering the management and development of the renewables’ production and supply chain. He is currently EVP of Neste’s Oil Products business area and a member of the executive committee.

The EVP of Renewable Polymers & Chemicals is to be announced later, Neste added.

Current EVP for renewable products business area, Kaisa Hietala will leave the company. Vice president of sales Scandinavia, Carl Nyberg will take over Hietala’s position as of 19 Feb until the new structure will be in place on 1 May.

Nyberg will assume the responsibility for the Renewable Road Transportation unit post-restructuring.

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