Westlake, Ohio-based Nordson Corp., a maker of dispensing equipment for consumer and industrial adhesives, sealants and coatings, said it will reorganize into three financial reporting segments effective Aug. 1.
The segments are: Industrial Precision Solutions (IPS), led by Jeffrey A. Pembroke; Medical and Fluid Solutions (MFS), led by Stephen Lovass; and Advanced Technology Solutions (ATS), led by Srinivas Subramanian. All three segment leaders carry the title of executive vice president.
Nordson President and CEO, Sundaram Nagarajan, said in a statement that the realignment "gives us better visibility into our medical and electronics platforms, which have grown significantly through both organic and acquisitive opportunities. This new structure reflects the Nordson of today and enhances the company's ability to deliver the Ascend strategy goal of top-tier growth with leading margins and returns."
The Ascend strategy, launched in 2020, is made up of what Nagarajan calls three "interconnected" parts: a growth strategy, a talent strategy and an organizational structure.
Here's a look at the structure of the three segments.