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February 21, 2013
08:06 EDTBRCBrady announces plan to reorganize around three platforms
Brady reported that as part of its strategy to improve organic growth and profitability that it will be changing its organizational structure from geographically-based to an organization structured around three global business platforms: Identification Solutions, Workplace Safety and Die-Cut. Matthew Williamson will lead the global Identification Solutions business. Scott Hoffman 6will lead the global Workplace Safety business. Stephen Millar will lead the Die-Cut business. Peter Sephton, currently president of Brady’s EMEA region, will be retiring from Brady effective July 31. The company said, “We believe that our reorganization around global business platforms will create better alignment of resources required to deliver increasing levels of organic sales growth. We will also be able to create a leaner, flatter organization that is closer to the customer, allowing us to reduce costs by approximately $25M-$30M annually, some of which will be reinvested into growth initiatives. Costs to implement this reorganization are expected to range from $15M-$18M. The global business reorganization will be effective May 1, 2013 with most of the restructuring completed by the end of fiscal 2013."
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