Austrian packaging company Constantia Flexibles will close regional management offices in Houston and Dubai as part of a major restructuring announced Nov. 22.
The company said the new structure and resulting managerial changes effective Jan. 1 follows its 1.15 billion euro ($1.4 billion) sale of its labels division at the end of October to Multi-Color Corp., as well as its decision to expand its food and pharma divisions.
As of the new year, Constantia's food business unit will be headed up by Executive Vice President Stefan Grote and Pharma which will be headed by EVP Henri Bruchon.
Stefan Bogoli, currently EVP for Constantia's North American food business, and Friedrich Humer, EVP in Dubai, will step down from their posts once their offices close.
“Our new and lean divisional structure will increase flexibility, reduce complexity, lower costs and speed up decision-making processes, which ultimately benefits all our customers worldwide,” said CEO Alexander Baumgartner in the news release.
The company's future executive committee will consist of Baumgartner, Chief Financial Officer Stephan Kühne, the two divisional EVPs Grote and Bruchon, executive director for human resources, Michael Müller, as well as Thomas Eck, senior vice president operations.
Constantia Flexibles is the world's fourth largest producer of flexible packaging, with more than 7,000 employees and 32 sites in 18 countries.