STOCKHOLM – Autoliv, a global leader in automotive safety, today announced a new operating structure in order to more effectively manage its business operations.
During the past five years, Autoliv has grown significantly. The company says this new operating structure creates an organization that will fit the current scope and size of Autoliv and allow for further growth of the company. The new structure also will strengthen the implementation of the company’s core strategies.
The new operating structure will be introduced in phases and will, when finalized, create two business segments: Passive Safety and Electronics.
The Passive Safety product organization, effective Sept. 1, will be responsible for all regional operations with respect to all our passive safety products, including airbag and seatbelt products.
The Electronics product organization, effective Sept. 1, will include Autoliv’s active safety products. Beginning Jan. 1, 2015, passive safety electronics will be transitioned from Passive Safety to the new Electronics product organization.
The heads of both Passive Safety and Electronics will report directly to Autoliv’s CEO.
As a result of the changes to Autoliv’s operating structure, beginning in January 2015, Autoliv will have two operating segments and two reportable segments for financial reporting purposes, commencing with Autoliv’s quarterly report on Form 10-Q for the period ending March 31, 2015.
In addition, as of Sept. 1, two new global functional units, Sales & Engineering and Product & Process Development, will be created to further support Autoliv’s operating segments and the execution of its core strategies.
The heads of the Sales & Engineering and of Product & Process Development also will report directly to the CEO.
“Today, we take the next step in the development of our company. Over the past five years, we have experienced significant growth and we are making these changes in order to more effectively manage the current scope of our business as well as to allow for our future growth. In addition, the creation of a more global, integrated organization will help us deliver on our core strategies, with quality as our No. 1 priority,” said Jan Carlson, chairman, president and CEO of Autoliv.
