Libbey to reorganise its operations

  

Tableware glass manufacturer Libbey is to realign its operations in a bid to reduce its pre-tax run-rate costs by $9-11 million.

It said the realignment plan would focus on transformational actions and structural changes to lower its cost base, improve its financial performance and cash flow generation.

The plan includes a transition by the group to a global, functionally aligned organisation to better leverage expertise and scale. 

It will centralise manufacturing operations and supply chain management, integrate key e-commerce functions into its core business, decreasing the number of layers and broaden managers' spans of control to simplify decision making and improve agility and responsiveness. 

Its board has approved the appointment of James C. (Jim) Burmeister to the additional role of senior vice president, chief operating officer, effective October 1, 2019.

Mr. Burmeister will continue in his current role as the company's senior vice president, chief financial officer.

In his expanded role, Mr. Burmeister will have primary responsibility for its manufacturing, engineering and supply chain operations, in addition to his responsibilities for the company's accounting, finance and information technology functions.

Michael P. Bauer, chief executive officer, Libbey, said: "We are taking significant steps to realign and right-size our organisation around our most profitable businesses and opportunities. 

“The actions we've taken are meaningful steps forward in our strategic development, and we are confident that execution against these plans will drive enhanced operational performance and deliver consistent and profitable growth for the long-term."


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