Swedish Match names President of reorganized Scandinavia Division and new Chief Financial Officer
Swedish Match today announced its decision to reorganize its operating structure, by integrating its Scandinavia Division and Smokefree Products Division into a new streamlined Scandinavia Division. It has also announced a new Group Management Team (GMT) resulting from this reorganization.
* Smokefree Products Division to merge with Scandinavia Division.
* Joakim Tilly (previously CFO) appointed President of the new Scandinavia Division.
* Marlene Forsell (previously Vice President Group Reporting) appointed CFO of Swedish Match AB, with Tom Hayes (CFO US Division) to be acting Group CFO during Forsell’s current parental leave.
* Restructuring costs are currently estimated not to exceed 30 MSEK and will be booked during the third quarter of 2013.
The new division will have the full responsibility for the Scandinavian snus business as well as the global responsibility for the production of smokefree products with factories in Gothenburg and Kungälv in Sweden and in Owensboro, Kentucky, USA.
The new Group Management Team will now be composed of Lars Dahlgren (President and CEO), Marlene Forsell (SVP and CFO), Joakim Tilly (President Scandinavia Division), Lars Olof Löfman (SVP Product Supply and Marketing, Scandinavia Division), Fredrik Lagercrantz (SVP Business Control), Richard Flaherty (President, US Division), Fredrik Peyron (SVP Legal Affairs and General Counsel), and Emmett Harrison (SVP Corporate Communications and Sustainability).
“We are creating a more efficient organization - both in terms of number of resources and the way we work. With a new, fully integrated Scandinavia Division under one management, we are confident that we will reinforce a clear and common agenda and act with more power and speed”.
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