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Clement Woon named CEO under new structure.
November 22, 2011
By: Karen McIntyre
Editor
The Oerlikon Group will simplify its Textile Segment to further increase competitiveness and profitability. The three key elements of this change are the consolidation of the five Textile machinery and components businesses into three Business Units (BUs), the relocation of Textile’s headquarters to Shanghai and increased R&D investment in both Germany and Asia to around CHF 80 million. In line with the new organizational structure, Clement Woon, an internationally experienced executive will succeed Thomas Babacan as Segment CEO on January 1, 2012. Oerlikon’s CEO Michael Buscher, said: “We have seen strong improvement in our Textile business, resulting in record margins. With the announcement today we are positioning the Segment even closer to our largest customers, consistent with our strategy to further increase efficiency and profitability. I would like to thank Thomas Babacan for his dedication to Oerlikon and welcome Clement Woon to the company.”
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