Finnish refining firm Neste Oil has revealed the details of how it will restructure its board to adapt to the recent internal operational changes.
The company will establish two separate executive vice-presidents to head its Oil Products and Renewable Products businesses, to date represented by one boss.
The production functions of both businesses will now become the direct responsibility of each business, as the current managing body Production & Logistics gets scrapped.
To address the changes the firm has made two new appointments to the board.
Matti Lehmus has taken on the role of executive vice-president of the oil products’ division, having previously headed the combined business.
The renewables division will now be headed by Kaisa Hietala, who was previously responsible for the business when it formed part of Oil Products & Renewables.
Additionally, the firm confirmed the appointment of Antti, currently senior vice-president of passenger traffic division at the VR group, responsible for safety of rail traffic, as the successor to the retiring executive vice-president of Oil Retail, Sakari Toivola, at the end of the year.
“Neste Oil has changed rapidly over the last couple of years and this has created a need to change our internal organization,” said Matti Lievonen, Neste Oil’s president and chief executive.
“By updating our organization and top-level responsibilities, we want to clarify and streamline the way we manage our businesses and improve our customer focus and our ability to react to changes in our markets.”
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