Air Liquide will simplify its corporate structure starting September 1 to meet growing market demand and improve its performance. The French industrial gas provider plans to reduce management levels to increase efficiency.
In a statement, Air Liquide announced that a single global industrial management structure will be created to optimize industrial processes. This will be led by Pascal Vinet, Executive Group Vice President, who will also retain his role as head of the Group's Safety and Industrial Merchant Business Line.
Armelle Levieux, currently the Vice President of the Group for Innovation and Technology, will also be responsible for the areas of Engineering and Construction in the future. This is intended to further promote the integration of technology and innovation, as the company explained.
Moreover, Emilie Mouren-Renouard, Group Vice President, will take direct oversight of all clusters in Europe, Africa, the Middle East, and India. This strategic realignment aims to strengthen regional operations and expand Air Liquide's market presence in these areas.
Longtime Executive Group Vice President Michael J. Graff will retire at the end of June. The responsibilities of the other members of the Executive Committee remain unchanged.
These structural changes were positively received by the markets. The stock of Air Liquide temporarily increased by 1.39 percent to 163.44 euros in after-hours trading on Tradegate.
