Renewable Aviation, Renewable Road Transportation and Renewable Polymers and Chemicals business units will be merged into one Renewable Products business unit
Neste plans to simplify its organizational structure and its operational model to secure the execution of its growth strategy with improved cost-efficiency and to strengthen its long-term competitiveness. With the planned changes and the simplified structure, Neste aims to strengthen accountabilities and efficient decision making.
Renewable Aviation, Renewable Road Transportation and Renewable Polymers and Chemicals business units will be merged into one Renewable Products business unit covering all renewables businesses. Furthermore, the company plans to align its functions to better support business-driven ways of working.
“We continue to execute our renewables growth strategy, while at the same time focusing on improving our efficiency. The planned simplified organizational structure and operating model will strengthen our long-term competitiveness. I am confident that with these planned changes we continue to create value for our customers and other stakeholders in a changing business environment,” says Neste’s President and CEO Matti Lehmus.
Neste is expecting the planned organizational changes to lead to a reduction of approximately 400 roles globally, predominantly in functions, in the renewables business and in development roles. It is estimated to result in total annual cost savings of approximately EUR 50 million. Furthermore, Neste plans to streamline its development portfolio to realize additional savings. The majority of these savings would be realized during 2024.
“As the change process will affect our people it has not been an easy decision to make, but it is necessary. We will offer support to our employees who are affected by this process,” continues Lehmus.
Changes to Neste’s Executive Committee
The organizational changes will affect the structure and composition of the Executive Committee of Neste. As a result the Executive Committee will, as of 1 November 2023, consist of the following members: Matti Lehmus, President and CEO; Katja Wodjereck, Executive Vice President, Renewable Products business unit; Carl Nyberg, Executive Vice President, Renewables Supply Chain and Sustainability; Markku Korvenranta, Executive Vice President, Oil Products business unit; Martti Ala-Härkönen, CFO, Executive Vice President, Finance, Strategy and IT; Bart Leenders, Executive Vice President, Technology and Projects; Hannele Jakosuo-Jansson, Executive Vice President, Human Resources, Safety and Communications and Christian Ståhlberg, General Counsel, Executive Vice President, Legal.
Panu Kopra, Executive Vice President of the Marketing & Services business unit will report to the President and CEO Matti Lehmus while not continuing as a member of the Executive Committee. Two current Executive Committee members, Minna Aila and Lars Peter Lindfors will step down from the Executive Committee and continue at Neste in other roles.
“I would like to thank Minna Aila, Panu Kopra and Lars Peter Lindfors for their valuable contributions in the Executive Committee over the years,” says Matti Lehmus, President and CEO.
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