Mondi Group, the packaging and paper multinational, has reformed its divisional structure to wipe out duplication and simplify its business.
The group said the move was not a change of strategy but a drive to improve efficiency. There would be job losses but these would "not be significant".
In January 2008, Mondi Packaging and Mondi Business Papers will be replaced with a Europe and International division and a South African division.
The former will include both packaging and paper businesses outside South Africa and be headed by current packaging chief executive Peter Oswald.
Mondi South Africa, meanwhile, will be mostly made up of that country's business paper set-up. The firm' shares fell marginally to just over 449p following the news.
Mondi Group chief executive David Hathorn said: "This will improve effectiveness and efficiency."
Mondi demerged in July from its parent, mining group Anglo American, so investors could more easily evaluate its business. It employs 34,000 staff and has sales of more than £4bn.
The group said the move was not a change of strategy but a drive to improve efficiency. There would be job losses but these would "not be significant".
In January 2008, Mondi Packaging and Mondi Business Papers will be replaced with a Europe and International division and a South African division.
The former will include both packaging and paper businesses outside South Africa and be headed by current packaging chief executive Peter Oswald.
Mondi South Africa, meanwhile, will be mostly made up of that country's business paper set-up. The firm' shares fell marginally to just over 449p following the news.
Mondi Group chief executive David Hathorn said: "This will improve effectiveness and efficiency."
Mondi demerged in July from its parent, mining group Anglo American, so investors could more easily evaluate its business. It employs 34,000 staff and has sales of more than £4bn.
Source: packagingnews
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