Today Swedish Match introduces a
reorganization of its business structure from a matrix of 15
operating units to six Divisions having clearly defined operating
responsibility: North Europe, Continental Europe, North America,
Overseas, Matches and Lighters.
Marketing, sales and production of
tobacco products will be organized in the North Europe,
Continental Europe, North America and Overseas Division. The
global product categories Matches and Lighters will be organized
as present, selling their products through the other four
Divisions.
Stefan Gelkner has been
appointed President of North Europe Division
Frans Vogels has been appointed President of Continental
Europe Division
Lennart Freeman has been appointed President of North America
Division
Ingemar Olsson has been appointed President of Overseas
Division
Graham Jones continues as President of Match Division and
Peter Nilsson as President of Lighter Division.
The Group Management Team will
comprise Lennart Sundén, President and CEO, Massimo
Rossi, Executive Vice President and Deputy CEO, Sven
Hindrikes, Senior Vice President and CFO, Bo Aulin
Senior Vice President Corporate Affairs, Göran Streiffert,
Senior Vice President Human Resources and the Presidents of the
six new Divisions.
The purpose of the reorganization
is to establish an organization with increased market focusing
characterized by few layers and clear accountability, while
linking Group Management directly to the operating units.
- The new organization with
focus on Swedish Match’s most important markets and
products will improve profitability and value growth,
says Lennart Sundén, President and CEO of Swedish Match.
- We want to establish a clear
sense of ownership at all levels in the organization with
concrete and measurable goals and at lower costs, says
Lennart Sundén.
Swedish Match financial reporting
structure will not be effected by the reorganization.
Swedish Match Group Structure as
of February 1, 1999.
For further information, please
contact:
Sven Hindrikes, Senior Vice
President & Chief Financial Officer, +46 8-658 02 82
Bo Aulin, Senior Vice President, Corporate Affairs, +46 8-658 03
64
Boel Sundvall, Vice President, Investor Relations, +46 8-658 01
73
Swedish Match is an
international group with headquarters in Stockholm, Sweden. The
company manufactures a broad range of tobacco products, matches
and disposable lighters which are sold in approximately 140
countries. Annual sales in 1997 amounted to approximately 7,500
MSEK. Swedish Match is listed on Stockholm Stock Exchange and on
NASDAQ.