Oiltanking to maximise current assets as part of its new strategy
Oiltanking plans to maximise the value of its current assets, achieving profitable growth, and providing the necessary enablers, as part of its strategy to 2025.
As a first step the organisational structure was changed from eight to three regions and a new management team was established.
The global energy markets are experiencing a period of structural change due to a slowdown in global GDP growth, decreasing energy intensity and the energy transition. The Oiltanking strategy 2025 is a response to these changing market conditions.
Oiltanking has defined three strategic directions that describe its way going forward: Maximising the value of current assets (cost optimisation and reshaping the portfolio), achieving profitable growth (project prioritisation with a focus on gas and chemicals as well as enhancing customer centricity), and providing the necessary enablers (leading safety performance and driving sustainability).
To be able to deliver on the strategy, one key objective is to consolidate the regional structure in order to simplify and streamline the organisation. Instead of eight regions to date, there will be three, more balanced, regions in future: Americas, EMEA (Europe, Middle East, Africa) and APAC (Asia Pacific including China and India). Furthermore, there will be four central functions: Finance (CFO), Portfolio & Strategy, Assets & Operations (A&O including HSSE) and Human Resources (HR). The heads of the new regions as well as the heads of the central functions will report directly to the CEO of Oiltanking.
Together they form the new Oiltanking Management Team: Matti Lievonen (CEO), Holger Donath (SVP Americas), Douglas van der Wiel (SVP EMEA), Claas Pinkenburg (SVP Portfolio & Strategy), Yvan Tavernier (SVP A&O) and René Anghel (CFO). The selection process for the SVP APAC and the new SVP HR is in progress. This organisational structure will become effective on October 1, 2019. Until a replacement has been nominated Douglas van der Wiel will be responsible for EMEA and APAC.
The next step is to detail the strategic directions and related initiatives. Latest in January 2020, Oiltanking plans to have this process completed and start full execution of its strategy.
“I am convinced that our strategy 2025 will pave the way to a sustainable future,” said Matti Lievonen, who took over as CEO of Oiltanking in April 2019. “In line with our strategic directions, we will focus on operational excellence, safety performance, project execution, and sustainability. I look forward to working with the new Oiltanking Management Team as well as with the entire organization to make our new strategy a success.”
For more information visit www.oiltanking.com
10th September 2019