July 20, 2018

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Prysmian Group announces the launch of its new organisation and begins its integration with General Cable

New Organisation to be implemented for integration with General Cable.

Milan, 11 June 2018 – Prysmian Group announces the launch of its new organisation and begins its integration with General Cable. The newly created Group is a world leader in the energy and telecom cable systems industry with global headquarters located in Milan, sales of over €11 billion (pro-forma as of 31.12.2017) and approximately 30,000 employees at 112 plants and 25 R&D centres in over 50 countries. The integration with General Cable enables further expansion of the range of technologies and products offered by Prysmian Group.

The shift in the balance of the weights of the various geographical areas is significant: North America will now account for approximately a third of the Group’s sales, with the North American head office located in Highland Heights, Kentucky, and 23 plants throughout the Region with about 5,800 employees.

“We are proud to have established our second home Region in the United States, contributing to the development of the country's economy with our best technologies and expertise. Today, we begin to operate as a single team with shared objectives,” stated Valerio Battista, Chief Executive Officer of Prysmian Group, “integrating the two companies’ cultures, business segments, geographical markets, production facilities and staff functions. Protecting our business and creating value: these are our priorities.”

The new organisation combines the strengths of both Prysmian and General Cable and is based on centralised governance and integrated management of global businesses, clear responsibilities for results, a focus on efficiency and technological innovation and a customer-centric approach enabled by teams dedicated to key customer accounts.

The new organisational matrix model is structured along 3 lines: the Group’s centralised functions, which aim at fostering the creation of a highly integrated "One Company”; the Regions, which ensure proximity to the market; and the Business areas (Energy, Telecom and Projects), which are responsible for product and cross-selling strategies.

“With the aim of identifying and retaining top talent, we conducted a thorough selection process based on the ‘best people for the job’ principle, ensuring equal opportunities to people from Prysmian and General Cable. The result is an international management team composed of 450 people who from the outset have been given clear responsibilities and precise objectives,” explained Fabrizio Rutschmann, Chief Human Resources Officer.

 

 

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