Stora Enso Changes Organisational Structure of Renewable Packaging
21 Março 2014 - 4:05AM
Stora Enso plans to reorganise its Renewable Packaging
Division, comprising Consumer Board, Packaging Solutions and
Packaging Asia, into three separate businesses reporting to the
CEO. As agreed by the Board of Directors, the
reorganisation has two objectives: to enhance visibility internally
and externally in addressing Global Responsibility challenges in
high risk markets, and to increase the focus on the growth engines
of Stora Enso's strategy. "This change will remove one
organisational layer. We want to increase clarity and transparency
within and outside the Group concerning the Global Responsibility
challenges we have had and continue to have in China, India and
Pakistan," says Stora Enso CEO Jouko Karvinen. The reorganisation
of the renewable packaging businesses is planned to be implemented
by 1 July 2014, subject to the outcome of applicable
co-determination negotiations. Until then, the businesses of the
current Renewable Packaging Division (Consumer Board, Packaging
Solutions and Packaging Asia) will report directly to the CEO. Mats
Nordlander, currently head of the Renewable Packaging Division and
a member of the Group Leadership Team, will leave his present
roles. He will continue to report to the CEO while his new tasks
are defined and agreed. "Stora Enso has already initiated a human
rights assessment across the Group. This is a continuation of our
ongoing efforts to systematically integrate human rights issues
into our business. We have high objectives and this will be a long
journey. We may never be perfect, but we will always be
transparent," Jouko Karvinen emphasises. "Consumer Board, Packaging
Solutions and Biomaterials have been defined as the growth engines
of the Group. Although continued cost and capacity adjustments have
maintained the cash generation of the Group, the growth of the
higher margin businesses has been limited. We must now get more
energy and focus on this task to grow our top line faster and to
manage the large investment projects and risks relating to them
better," says Jouko Karvinen. The effect of the changes on the
segment structure and reporting will be announced in due course
before the end of the second quarter of 2014.
For further
information, please contact: Jouko Karvinen, CEO, tel.
+358 2046 21410 Lauri Peltola, EVP, Global Identity, tel. +358 2046
21380 www.storaenso.com www.storaenso.com/investors Stora Enso is
the global rethinker of the paper, biomaterials, wood products and
packaging industry. We always rethink the old and expand to the new
to offer our customers innovative solutions based on renewable
materials. Stora Enso employs some 28 000 people worldwide, and our
sales in 2013 amounted to EUR 10.5 billion. Stora Enso shares are
listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A,
STE R). In addition, the shares are traded in the USA as ADRs
(SEOAY) in the International OTCQX over-the-counter market. STORA
ENSO OYJ
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