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Reorganisation for FLSmidth

World Cement,

Following the release of the company’s 1H14 results, FLSmidth has announced a number of organisational structure changes, as well as adjustments to the Group Executive Management.

Organisational structure

As of 1 January 2015, FLSmidth will be organised into two project divisions: a product division and a service division.

The Material Handling and Mineral Processing divisions will be merged into a Minerals division. Cement and Customer Services will be maintained as separate divisions. A new Product Companies division will be created to foster globalisation and growth of FLSmidth’s unique product brands.

Commenting on the reorganisation, Group CEO, Thomas Schulz, said: “This is an organisational improvement that prepares FLSmidth for the coming upturn by increasing operational efficiency, simplifying the structure, refining management focus and laying out the foundation for globalising our product companies. This gives us a strong platform for future value creation.”

Group Executive Management adjustments

As a consequence of the new divisional structure described above, FLSmidth has appointed new divisional presidents for the Minerals division, the Product Companies division and the Customer Services division.

The company has appointed Manfred Schaffer President of the new Minerals division, effective 1 January 2015. Commenting on the appointment, Vagn Sørensen, Chairman of the Board of Directors, said: “I am very pleased that we have managed to get Manfred Schaffer on board. In Manfred Schaffer, we get a global executive with in depth knowledge of the mining industry. Manfred's task will be to create the strongest project business in the industry, offering customers a new industry standard within minerals projects and systems.”

Current President of the Customer Services division, Bjarne Moltke Hansen, will take up the position as President of the new Product Companies division, effective 1 January 2015.

FLSmidth has appointed Brian Day President of the Customer Services division, effective 1 January 2015. Day will be responsible for the continued growth of the Group’s service and after-market activities.

Commenting on Brian Day’s appointment, Sørensen added: "With the appointment of Brian Day, we not only strengthen Group Executive Management with solid global service experience and management skills, we also get the perfect succession for current President of Customer Services, Bjarne Moltke Hansen who will be taking up the responsibility of unleashing the substantial growth potential we have in the new Product Companies division, by driving FLSmidth's product companies to leading global positions in both the cement and minerals industries."

President of the Material Handling division, Carsten Lund, will take up the position as Country Head, India.

President of Mineral Processing, Peter Flanagan, will assume a senior management position in the company, outside Group Executive Management.

Adapted from press releases by Katie Woodward

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