New organization at Aurubis marks transformation from technology-oriented to market-oriented structure
Hamburg | Tuesday, June 30, 2015
Aurubis AG will be introducing a new corporate organizational structure on July 1, 2015. The company will be structured into two segments focusing on Primary Copper Production and Copper Products instead of the three former Business Units Primary Copper, Recycling/Precious Metals and Copper Products. Executive Board Member Dr. Frank Schneider who was in charge of the Recycling/Precious Metals division, will be leaving the company on June 30, 2015, in best consent within the wake of these restructuring activities. Dr. Stefan Boel's contract for the expanded Copper Products division will be renewed for five years until April 30, 2021. No changes will be made to the Finance division headed by CFO Erwin Faust.
The Supervisory Board would like to thank Dr. Schneider for his committed endeavors at the Aurubis Group.
The Group's central Precious Metals division will be integrated into Primary Copper Production, responsibility for which will continue to lie with CEO Dr. Bernd Drouven.
The Lünen recycling facility will be integrated into the Copper Products division. This will enable Aurubis to focus more effectively on its customers. Improved strategic integration will be particularly advantageous in view of the increasing volume of closing-the-loop projects. Within this context, we are planning to accept scrap and production waste from our customers and put these materials back into circulation.
Integrating our recycling activities into our product business is a logical step if we consider these areas from a market perspective, in other words from the perspective of our customers. Our new structure and reduced interfaces mean that Aurubis is well positioned for the future,
Dr. Bernd Drouven, CEO of Aurubis, says about the new structure.
Segment reporting in line with the new structure is scheduled for Q4 (September 30, 2015) in time for the financial statements of the fiscal year 2014/15.