As a result, the corporate functions for Innovation, IT/Digitalization, Human Resources, Process Engineering & Operational Development, and Legal are integrated into Gränges Europe effective 17 December 2021. The corporate functions for Finance, Sustainability and Communication are not affected by this change.
The changes will lead to restructuring costs of SEK 200 million in the fourth quarter, of which SEK 160 million refers to a non-cash write-down of intangible assets, mainly within IT. The changes will generate annual cost savings of SEK 40 million effective January 2022.
The Group Management Team will from 17 December consist of the President and CEO Jörgen Rosengren, CFO and Deputy CEO Oskar Hellström, SVP Sustainability Sofia Hedevåg, President Americas Patrick Lawlor and President Asia Colin Xu, as well as the President Europe once that recruitment is completed.