Boral announce divisional restructure
Building Products to be combined with Construction Materials & Cement to form Boral Australia division
BORAL Ltd have announced that, with effect from 1 July 2016, their Building Products division in Australia will combine with their Construction Materials & Cement division to form a new Boral Australia division.
Joe Goss, currently divisional managing director of Construction Materials & Cement, will become divisional chief executive of Boral Australia, responsible for the new merged division.
As previously announced, David Mariner, currently executive general manager of Boral’s Building Products division in Australia, will be returning to the US to replace Al Borm in the role of president and chief executive officer of Boral USA, effective 1 July 2016.
Mr Borm will continue to be a member of the joint-venture board of USG Boral and will work in an advisory capacity to Boral for a transition period.
Commenting on the changes, Mike Kane (pictured), Boral’s chief executive officer and managing director, said that bringing the smaller Australian Building Products division into Construction Materials & Cement would reduce costs and improve efficiencies.
‘This is a sensible and logical next step for Boral as portfolio realignment has seen the Building Products division substantially reduce in size over recent years,’ he said. ‘We will have three well defined operating divisions.
‘In Australia, our strategy continues to be about protecting and strengthening our leading integrated positions and continuing to optimize assets to deliver strong returns.
‘In the US, it’s about significant growth through market recovery and strategic portfolio realignment and expansion.
And in our USG Boral plasterboard joint venture throughout Asia, Australasia and the Middle East, it’s about long-term growth through innovation, product penetration and market growth.’
There will be no changes to Boral’s divisional reporting for Building Products and Construction Materials & Cement for the year ended 30 June 2016.
