13 December 2001 16:22 [Source: ICIS news]
LONDON (CNI)--UK-headquartered energy giant BP is restructuring its chemical business on a regional basis from the current product line-based structure.
In a statement received by CNI on Thursday, BP said the reorganisation was being undertaken to simplify and clarify the chemicals business structure, thereby aiding effective management. The new structure will be in place by 1 January 2002, it added. However, product strategies in the chemicals business will still be driven globally, said BP.
The three group vice presidents who will assume regional responsibilities are Mike Buzzacott (Europe, Middle East and Africa), Andrew Mackenzie (Americas) and David Peattie (Asia). Peattie will also be responsible for BP's global acetyls business). All three men will report directly to Byron Grote, chief executive of the chemicals business.
Buzzacott was formerly group vice president for olefins and polymers in Europe, Africa and the Middle East. Mackenzie was formerly responsible for olefins and polymers in the Americas and Asia. Peattie had been in charge of aromatics and derivatives. Rick McNeel, group vice president for intermediates and fabrication, is to retire from 1 January after 32 years with BP.
At the business unit level, the structure of the chemicals business is also being simplified. BP said that some highly integrated business units have been combined to give fewer, larger units and this has reduced the total number of business units to 16 from 23.
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