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Oiltanking GmbH, corporate

Oiltanking GmbH,

06.09.2019 - 16:22:22

Oiltanking announces strategy 2025

PRESS RELEASE

Oiltanking announces strategy 2025

Hamburg, September 6, 2019 - Oiltanking GmbH today announces the highlights of its new strategy. Key elements are maximizing the value of the current assets, achieving profitable growth, and providing the necessary enablers. As a first step the organizational 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: Maximizing the value of current assets (cost optimization and reshaping the portfolio), achieving profitable growth (project prioritization 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 organization. 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 organizational 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," says 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."

Oiltanking is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of supply, trading and logistics of energy & chemicals. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 70 terminals within Americas, Europe, Middle East, Africa, and Asia Pacific including China and India. Oiltanking has an overall storage capacity of over 20 million cbm.

For more information on Oiltanking and Marquard & Bahls, please visit www.oiltanking.com and www.marquard-bahls.com

For media inquiries, please contact:

Gerrit Habbel Executive Assistant to the CEO Oiltanking GmbHgerrit.habbel@oiltanking.com

End of Media Release Issuer: Oiltanking GmbH Key word(s): Energy

06.09.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

870079  06.09.2019 

@ dgap.de