MOL Announces Restructuring Measures
MOL Announces Restructuring Measures TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that it will restructure the organization effective April 1, 2018, as follows
1. Establishment of Technology Innovation Unit MOL will establish the Technology Innovation Unit and the position of Chief Technical Officer to supervise operations as a representative of the unit. Organization Technical Division Smart Shipping Division MOL Information Systems, Ltd.
2. Establishment of Chief Financial Officer MOL will newly establish the position of chief financial officer to supervise planning of strategies and measures to promote optimal group-wide funding and financial strategies and provide necessary advice to executive officers responsible for business divisions.
3. Renaming Executive Officer for Corporate Communication The executive officer position responsible for corporate communication will be renamed the Chief Communication Officer.
4. Establishment of Chief Executive Representatives, North, Middle Americas & the Caribbean, and South America Chief Executive Representatives will be newly established for North, Middle Americas & the Caribbean, and South America in place of Chief Country Representative, North America.
5. Head Office Organization unified into divisions The Head Office organization, which is made up of divisions and offices, will be unified into divisions, to restructure and organize the organizational system and allow divisions to more effectively allocate their resources.
6. Establishment of Corporate Marketing Division MOL will establish the Corporate Marketing Division to succeed operations of the One MOL Business Strategy Execution Office in the current Corporate Planning Division, with the aim of more effectively promoting group-wide business activities across regions and organizations and build a system to move ahead assertively: (A) Plan, study, and implement marketing methods and systems that go beyond the organization (B) Plan, study, and implement strategic business models using business intelligence (C) Plan digital strategies using ICT and new technologies that link customer needs and MOL Group seeds (D) Promote MOL Group innovation activities.
7. Establishment of Tanker Division (A) and Tanker Division (B) MOL will divide the Tanker Division into Tanker Division (A) and Tanker Division (B) to create a more customer-focused approach. The Tanker Division (A) will take responsibility mainly for the crude oil tanker business and the Tanker Division (B) will focus on petroleum product tanker and methanol tanker businesses.
8. Establishment of Ferry Business Division MOL will establish an independent business division aimed at more effective investment of management resources, promotion of more efficient marketing, and so on for the ferry business, which was announced in the policies intended to reinforce business fields where MOL anticipates future growth in the management plan “Rolling Plan 2017.”
9. Restructuring and renaming New Business Creation and Group Business Division MOL will transfer operations of the Environment and Emission Free Business, which was positioned as a business for future development in “Rolling Plan 2017,” from the Corporate Planning Division to the New Business Creation and Group Business Division, with the aim of accelerating the business. In accordance with this, it will also rename the New Business Creation and Group Business Division the New & Clean Energy Business Division.
10. Establishment of Liner Business Management Division MOL will establish the Liner Business Management Division to fulfill its management role as one of the major investors in Ocean Network Express (ONE), into which the Liner Division is being integrated.
11. Establishment of Corporate Audit Division MOL will establish the Corporate Audit Division to oversee the Internal Audit Office, an organization that serves to assess management quality and suggest improvements, in addition to operations related to internal audit and internal control and management, which are currently handled by the Internal Audit Office.
12. Establishment of Corporate Communication Division MOL will integrate the Public Relations Office and IR Office into the Corporate Communication Office to enhance the quality of messaging and information from MOL and strengthen initiatives to establish the corporate brand.
13. Establishment of Secretaries & General Affairs Division MOL will merge the Secretaries Office and General Affairs Division to establish the Secretaries & General Affairs Division with the aim of promoting activities as a policy secretary in addition to the roles of secretariat operations.