Plus   Neg

GEA Group To Be Organized In Five Divisions - Quick Facts

German Technology company GEA Group AG (GEAGF.PK,GEAGY.PK) on Monday outlined its new organizational structure. It will be implemented gradually from October 1, 2019 onwards and become effective January 1, 2020.

The company will be organized in five divisions with each up to six sub-divisions. These will be based on technologies and be essentially oriented towards the company's existing legal entities.

Further, citing the significance of procurement, production and logistics, GEA said it will create a new and joint Board level position for these areas. The company has already launched a search to fill the post of this COO position.

Executive Board member Martine Snels has decided to not prolong her contract expiring by the end of September 2020 and will leave GEA at this point of time. The Board will continue to comprise four members going forward.

Once the new organizational structure has become effective, responsibility for the five divisions will be split between CEO Stefan Klebert and Board member Steffen Bersch.

The new divisions will be are Separation & Flow Technologies, Liquid & Powder Technologies, Food & Healthcare Technologies, Refrigeration Technologies, and Farm Technologies.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Brick-and-mortar retailers reported mixed results as they head into the holiday season, as department store chain Kohl's Corp. (KSS) and Home Depot Inc.'s (HD) sales dropped, while discount retailer TJX Cos. (TJX) recorded strong sales growth. Shares of Home Depot slipped 5% after the home-improvement... The U.S. government has issued a new 90-day license extension that will allow U.S. companies to continue doing business with Chinese telecom giant Huawei Technologies Co. Ltd. This is the third 90-day license extension given by the U.S. to Huawei, the world's largest telecom equipment maker. The extension was given in order to minimize disruption for Huawei's customers. Chick-fil-A said it will no longer donate money to two Christian organizations that have been accused of anti-LGBTQ stances - the Fellowship of Christian Athletes and the Salvation Army. The two organizations have been criticized for their statements about same-sex marriage and homosexuality in the past. Chick-fil-A too faced a backlash after its CEO Dan Cathy said he opposed same-sex marriage.
Follow RTT