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June 25, 2014

Outokumpu Makes Changes to Operations, Leadership
 
Finnish steelmaker Outokumpu has announced changes in its operational model and leadership team. The purpose of the changes is to increase customer and market orientation, drive business performance and increase speed and accountability, the company claims.

Starting Sept. 1, Outokumpu will consist of five business areas with sales, production and profit responsibility. They include: Coil EMEA, Coil Americas, APAC, Quarto Plate and Long Products.

"During the past 18 months, we have focused heavily on restructuring and improving our financial position. We have made solid progress in our cost savings and ramp-ups, and significantly strengthened our balance sheet. While we will determinedly carry out all the ongoing restructuring and efficiency measures, we are at the same time shifting gears to accelerate further improvements in our business performance and customer orientation," says Mika Seitovirta, Outokumpu CEO.

The new operational model will not directly result in new job cuts. However, previously announced cost-saving programs and efficiency measures will eliminate 3,500 jobs globally by the end of 2017.

In addition to Seitovirta, the Outokumpu leadership team will include Richard Florey, CFO;
Olli-Matti Saksi, Coil EMEA; Michael Wallis, Coil Americas; Austin Lu, APAC; Kari Tuutti, Long Products; Kari Parvento, Quarto Plate. Jarmo Tonteri, current head of Stainless EMEA and Specialty Stainless units, will continue as an executive advisor to the group until his retirement in the next 12 months.

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