The Gunnebo Security Group has adjusted its organisation resulting in the winding up of the former Business Area structure (Bank Security & Cash Handling, Secure Storage, Global Services and Developing Businesses). Selected resources have been transfered, primarily into the existing sales regions (Region Europe, Middle East & Africa, Region Asia-Pacific and Region Americas). Some resources within the strategic development of the business proposition, product and service management, brand development, marketing communication and product development have become Group-wide functions.

"Good growth within the Asia-Pacific and Americas regions, together with the acquisition of US Hamilton Safe, has given us the critical mass needed to strengthen our regional organisations," comments Gunnebo's President & CEO, Per Borgvall. "A strengthened, region-based organisation will allow increased customer focus and market presence, as well as increased focus on growth markets.

Group-wide resources have been merged to enable faster and more cost-efficient support to the sales regions. "Our business is still different from region to region. With a strong connection to the local business coupled with enforced Group-wide functions, we allow us to better leverage on the competence built up in the Business Areas," comments Per Borgvall.

The organisational adjustment will also bring about cost savings, which is in line with the objective to reduce the Group's European cost base.
Gunnebo's Group Executive Team is as follows:

• President & CEO and SVP Region Asia-Pacific: Per Borgvall
• SVP Region Europe, Middle East & Africa: Morten Andreasen
• SVP Region Americas: Tomas Wängberg
• SVP Operations: Lars Thorén
• SVP Entrance Control: Robert Hermans
• SVP Marketing & Service: Anna Almlöf
• CFO & CIO: Christian Johansson
• SVP Human Resources & Sustainability: Magnus Lundbäck

The Group's external reporting structure will be changed to reflect the new structure as of the fourth quarter of 2013. Pro-forma information will be shared in a separate press release.