Intrum simplifies organisational structure to further drive efficiency
To achieve increased efficiency and competitiveness, Intrum is to implement a new, simplified organisational structure with the creation of a new business line, Strategic Markets, and the removal of the four geographical regions
Intrum has grown substantially in recent years, especially in southern Europe. To reflect this, a third business line will be created consisting of Intrum’s key southern European markets in parallel with the existing “Credit Management Services” and “Portfolio Investments”.
The three business lines going forward are:
• Credit Management Services (CMS)
• Portfolio Investments (PI)
• Strategic Markets (Greece, Italy and Spain)
Greece, Italy and Spain have similar characteristics based on partnerships with large financial institutions including structural carve outs and joint ventures. Today’s four geographical regions will at the same time be removed. The changes will take effect from January 1, 2020 and be reflected in Intrum’s financial reporting from Q1 2020.
“By forming a separate business line with our large countries in Southern Europe, we increase transparency around the performance of these three strategic markets,” says Mikael Ericson, President and CEO of Intrum.
“With these changes, we’re also simplifying the organisation by removing the regional layer, thereby continuing to increase efficiency and client focus as we address our overall cost base. The new structure lays the ground for further strengthening our market leading position in Europe.”
“This change also supports tighter collaboration between our local markets and Group functions and enables the central functions to take on full functional responsibility across our organisation. Legal responsibility, including for financial performance, remain with the Managing Directors of the respective countries.”
The Managing Directors for Greece, Italy and Spain will report directly to Intrum’s CEO, Mikael Ericson, and the other 21 Country Managers will report either to Anette Willumsen or Per Christofferson.
Intrum’s Group Management Team from January 1, 2020:
Mikael Ericson, President and CEO
Anders Engdahl, Chief Financial Officer (CFO)
Johan Brodin, Chief Technology Officer (CTO) and Chief Risk Officer* (CRO)
Per Christofferson, Managing Director CMS; Secured Assets, M&A and Markets, MD Greece
Anna Fall, Chief Brand & Communications Officer (CBCO)
Jean-Luc Ferraton**, Chief Human Resource Officer (CHRO)
Marc Knothe, Managing Director Italy
Niklas Lundquist, Chief Legal Officer (CLO)
Harry Vranjes, Chief Operating Officer (COO)
Anette Willumsen, Managing Director CMS Sales & Service Development and Markets
Alejandro Zurbano, Managing Director Spain
Chief Investment Officer (CIO), vacant (recruitment process initiated)
* Johan Brodin takes on the CTO role but holds the CRO role in parallel for the time being, until a new CRO is in place (recruitment process initiated).
** Jean-Luc Ferraton is appointed Managing Director for France as from H1 2020; the recruitment process for a new CHRO has been initiated.
For further information, please contact:
Viktor Lindeberg, Head of Investor Relations
+46 (0) 8 546 102 02
Anna Fall, Chief Brand & Communications Officer
+46 709 96 98 21
Intrum is the industry-leading provider of Credit Management Services with a presence in 24 markets in Europe. Intrum helps companies prosper by offering solutions designed to improve cash flows and long-term profitability and by caring for their customers. To ensure that individuals and companies get the support they need to become free from debt is one important part of the company’s mission. Intrum has circa 10,000 dedicated professionals who serve around 80,000 companies across Europe. In 2018, revenues amounted to SEK 13.4 billion. Intrum is headquartered in Stockholm, Sweden and the Intrum share is listed on the Nasdaq Stockholm exchange. For further information, please visit www.intrum.com.
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