Tenova’s Businesses and Governance Reorganization
Tenova announced today the decision to reorganize its business and to review the governance structure accordingly.
The changes are intended to steady Tenova around the two businesses in which the company operates – metals and mining – so as to better focus on each’s specific priorities, market approach and global presence.
In the context of this reorganization, the role of Tenova CEO has been assigned to Roberto Pancaldi, previously CEO of the Metals Division, while Andrea Lovato, the former Tenova CEO, will assume the role of TAKRAF CEO. Tenova and TAKRAF are indeed two strong brands that will continue to be a leader in their respective markets.
“The extraordinary situation caused by the outbreak of COVID-19 at a global level has accelerated the rethinking of our business model and the definition of a new structure to better fit the complexity of the current business scenario, with a leaner structure and a clearer definition of roles” – commented Andrea Lovato.
This change will leave more autonomy to the respective CEOs in developing their businesses and in building their long-term sustainability while they concentrate on short-term consolidation and continuity. “I am sure that this reorganization will help us to better focus our strategy and result in our steel and metals market offering being more solid” – affirmed Roberto Pancaldi.