The division was expected to be implemented from July 1 but following the appointment of Karl-Henrik Sundström as CEO, it will now be postponed to allow for the transitional period to take place.
CEO transition period
Sundström, 54, will start his job on August 1 and until the reorganisation is implemented, the Renewable Packaging Division will report to the CEO.
FoodProductionDaily announced in March Stora Enso planned to reorganise its Renewable Packaging Division, comprising Consumer Board, Packaging Solutions and Packaging Asia, into three separate businesses.
The reorganisation has two objectives: to enhance visibility internally and externally in addressing Global Responsibility challenges in high risk markets, and to increase the focus on the growth of the company.
“This change will remove one organisational layer. We want to increase clarity and transparency within and outside the Group concerning the Global Responsibility challenges we have had and continue to have in China, India and Pakistan,” Karvinen said at the time.
“This is a continuation of our ongoing efforts to systematically integrate human rights issues into our business. We have high objectives and this will be a long journey. We may never be perfect, but we will always be transparent.”
Consumer Board, Packaging Solutions and Biomaterials have been defined as the growth engines of the Group.