SENSATION: APL shrinks - wide restructuring scheme

By Finance

APL shipping company, the container shipping arm of Neptune Orient Lines (NOL), is undergoing a detailed restructuring that is going to cooperate departments and fends off positions while creating 2 new vice presidents to carry out the schedule.
Relating to an inner memo provided by London's Containerisation International, APL international shipping company intends to close European offices and "merge or suppress" a broad range of positions within the company's north Asia division.
"APL's 'hybrid functional-and-geographic structure' in North America is going to be changed to a clearly functional model. Area sales is going to be consolidated and, together with client service, is going to be integrated with Sales & Marketing," told the statement, adding that APL's main office purchasing department team is going to join finance department.
The Philippines is going to become a part of the north Asia division. Offices are going to be closed in Lithuania, Latvia, Portugal and Switzerland, with Swiss business being run from Austria.
There will be a new vice-president that is going to have global accountability and responsibility to curdle all groups and functions that impact fuel spending, also says the statement. Another vice-presidency is going to be created to take on responsibility for the development and management of a global trading strategy. Both are going to report to APL chief executive Kenneth Glenn.
The president of South Asia regional, Goh Teik Poh is going to be replaced by Jason Wong. Mideast vice president Steven Dolan is not going to be replaced when he moves to the North American region. Egypt and Saudi Arabia are going to come under the present managing director in Egypt, Aziz Toha. And a new managing director in UAE is going to be appointed with responsibility for the UAE, Bahrain and Mideast agencies.
This comes in the wake of APL's latest financial failures, and is planning to cut US$70 million from operating expenses.