Temporary power firm Aggreko is to create a new global management structure in a bid to support future growth.
Under the changes, the group’s global interests will be split into three geographic units – Europe, the Middle East and Africa (EMEA), Asia, Pacific and Australia (APAC) and the Americas, each handling both its local business and its international arm focused on larger power plants.
Each unit will operate all of the group’s business in those areas. The changes will come into effect on 1 January 2013.
Head of the US business George Walker will continue in his post until the end of the year before stepping down from the board. He will remain with the company in a sales and marketing role.
Kash Pandya, head of Aggreko’s international business, will leave the company in the second half of 2013. Bill Caplan, who currently heads the Europe and Middle East business, will also depart.
Asterios Satrazemis and Debajit Das, who already hold senior positions with Aggreko, will head up two of the regional units and join the board. An external candidate is being appointed for the third.
Aggreko said in a statement that the new structure would create a more balanced organisation, with each of the units accounting for 30-40% of group trading profit. It also said the units would create businesses which were “of sufficient scale to be efficient, but which are easier to manage as they will be operating in the same time zone”.
The company said it did not anticipate any material restructuring costs as a result of the reorganisation. Analysts said the changes reflected the dramatic growth of the company in recent years. One said: “This is being done from a position of strength and planning for the long term rather than a reaction to a current business issue.”
