Huhtamaki is separating its Fiber Foodservice Europe-Asia-Oceania business segment into two distinct business segments: Fiber Packaging and Foodservice Europe-Asia-Oceania. The change is expected to take effect as of April 1, 2025, at the latest.
“We are separating our Fiber Foodservice business into two distinct business segments to empower our teams to serve our customers more efficiently. This strategic move positions us for profitable growth by giving accountability to the businesses and increasing speed of execution in a changing business landscape. It will support our goal of being the first choice in sustainable packaging,” says Ralf K. Wunderlich, President and CEO of Huhtamaki.
The business segments were integrated in 2020. In external reporting the businesses have continued to be reported separately, and this change will not impact external reporting. Combining the businesses in 2020 has achieved the initially projected synergies and built foundations for growth by seizing promising market opportunities.
“By focusing again on their own areas of expertise, both segments can drive innovation more effectively. The segments will continue to work in close collaboration on development areas, including the important smooth molded fiber technology. This change will also ensure alignment with Huhtamaki’s strategic objectives as we can streamline processes and clarify responsibilities,” Wunderlich says.
Both segments will have their own presidents, who will be part of the Global Executive Team. Sara Engber has been appointed President, Fiber Packaging, and member of the Global Executive Team at Huhtamaki. Fredrik Davidsson will continue as a member of Global Executive Team as President, Foodservice Europe-Asia-Oceania.
Separation of the businesses is subject to finalizing potential statutory consultation requirements where applicable.
