CSM to Review Corporate Structure
In order to come up with a balanced solution and take account of impending changes to Dutch company law, CSM expects to be able to make further announcements in this respect by the end of 2006.
07/04/06 CSM has announced plans to review its corporate governance structure in the coming period. As part of the change process underway at CSM including the changed composition of the Board of Management, the redefinition of the company’s strategy and the initiation of a drastic restructuring operation CSM deems it appropriate to evaluate its corporate governance structure in the light of current views and developments.
In order to come up with a balanced solution and take account of impending changes to Dutch company law, CSM expects to be able to make further announcements in this respect by the end of 2006.
Yesterday it emerged that CSM would close a bakery production facility in Elk Grove Village, Illinois. The plant closure, which is expected to be completed by the 2nd quarter of 2007 is part of the optimization process of the supply chain at CSM Bakery Supplies North America. The measure was reportedly in line with previous announcements regarding the reinforcement of CSM’s market positions and organizations and is part of CSM’s worldwide 3S program (a Strong company, a Sharp team, and a Solid performance).
CSM's restructuring program has already led to many restructuring measures including, so far in 2006, reorganizations in the Netherlands, France, Germany and the UK.
