Weitnauer restructure focuses on core retail

Print Article E-Mail Article

Weitnauer has unveiled the details of its restructure of management and reaffirmed its emphasis on the core travel-retail business

The group's activities are to be concentrated on four distinct travel-retail regions as well as its Swiss vending machine business.

The new executive committee is as follows:
Frédéric Gauchet, CEO (based in Basle)
Josef Zahno, CFO (Basle)
Dante Marro, COO of Region Italy & Brands (Milan)
José Gonzalez, COO of Region Americas & Caribbean (Miami)
René Riedi, COO of Region Eurasia & Asia (Sharjah)
Markus Wehrli, COO of the Restomat vending machine business (Basle)

A coo of region western Europe & Africa will soon be appointed.

Gauchet told TRW: "The move aims at showing how our retail operations have become Weitnauer's core business and how the operational management was key to the future of the company. The composition of the executive committee gave priority to the COOs who were not part of the former committee."

Gauchet insisted that the company was committed to its existing business in Asia and the Americas, but he said: "We may divest on a case by case basis some operations that are too small or without attractive profit potential."

On the possibility of making fresh acquisitions, he said: "The solidity of Weitnauer's balance sheet and the commitment of our shareholders allow us to contemplate an acquisition strategy if assets are available at the right price."

• A full report will appear in the July 1 issue of Duty-Free News International.