Enzymes firm Novozymes restructures operation into three divisions
The Danish-headquartered business is creating a central Research, Innovation & Supply operation that will support three divisions: Household Care & Technical Industries, Agriculture & Bioenergy and Food & Beverages.
“We can make an even bigger difference with our biological solutions than we do today,” said Novozymes president and CEO Peder Holk Nielsen. “We have not unlocked our full growth potential.
“With this change in structure we aim to deliver more significant innovation to our customers faster and create the agility to act swiftly on market needs.”
The restructure is accompanied by a management shake-up that will see Thomas Nagy, head of supply operations, leave Novozymes. Per Falholt, head of R&D, will step down from the executive leadership team but will continue at Novozymes in a consulting role on technology scouting.
Holk Nielsen thanked Nagy and Falholt for their “long careers with Novozymes and outstanding contributions”.
The company has promoted two members of staff to the Executive Leadership Team.
With effect today (8 February) Novozymes' organization and Executive Leadership Team is:
- President & CEO: Peder Holk Nielsen
- Corporate Functions: EVP & CFO Benny D. Loft
- Research & Supply: EVP & COO Thomas Videbæk
- Agriculture & Bioenergy division: EVP Tina Sejersgård Fanø
- Food & Beverages division: EVP Andrew Fordyce
- Household Care & Technical division: EVP Anders Lund
Tina Sejersgård Fanø, who will lead the new Agriculture & Bioenergy division, started her career with the company in 1993 and has held positions within R&D, marketing, business development and sales. She holds a Master of Science in chemical engineering from the Technical University of Denmark, as well as a bachelor’s degree in philosophy and education from Copenhagen University, Denmark
Anders Lund, who will head the Household Care & Technical division, started with the company in 1999 and has held leadership positions across marketing, sales and was head of supply chain. He holds a Master of Science in economics from Aarhus University, Denmark.
Cost of reorganization
Novozymes expects that total costs associated with the reorganization will be DKK 60-70m ($9-$10.5m). These costs are expected to be realized in Q1 2016, and the company said its full-year 2016 outlook remained unchanged.
Novozymes supplies industrial enzymes, microorganisms, and biopharmaceutical ingredients for applications including bread, beer and wine, animal feed, laundry and dishwashing detergents.