Colep, the packaging and contract manufacturing company, has announced that it will split its businesses into two new entities, from 1 July.
The new entities will be named Colep Packaging and Colep Consumer Products.
The decision, said Colep, stemmed from its realisation that, although serving similar industries, the company’s packaging and contract manufacturing businesses were operationally and strategically different.
As the current marketplace requires companies to be more agile and act faster, the split will provide the Colep companies’ respective management teams with the required autonomy and empowerment to meet expectations.
The RAR Group, the sole shareholder of Colep, will remain the 100% shareholder of both new companies.
Colep has started the required legal procedures to complete this operation.
To lead the new companies Colep has also appointed Paulo Sousa (currently the Managing Director of Colep’s Packaging Division) as CEO of Colep Packaging and Pierfranco Accardo (now Managing Director of its Consumer Products Division) as CEO of Colep Consumer Products, effective from 1 July.
Vitor Neves, Colep’s current CEO and future Chairman of both new entities, commented: “The step we are now taking is very important to empower the management team of each of our businesses to strengthen their position in their respective markets.
“I’m sure that Paulo and Pierfranco will bring their experience, knowledge and enthusiasm to lead their respective organisations to grow each of their businesses and provide our stakeholders with higher levels of satisfaction.”
