TAKKT AG: TAKKT re-organizes its Group and management structures

DGAP-News: TAKKT AG / Key word(s): Strategic Company Decision

11.11.2019 / 18:36
The issuer is solely responsible for the content of this announcement.

TAKKT re-organizes its Group and management structures

Stuttgart, Germany, November 11, 2019. Today, the Supervisory Board and Management Board of TAKKT AG approved a new organizational approach named TAKKT 4.0. A core element of TAKKT 4.0 is a transformation of the organization with a focus on two business models and a new management structure. This is expected to provide the basis for additional growth.

While showing above-average profitability, TAKKT has grown better than the market over the last two years, but in some cases fell short of its own growth expectations and the performance of stock-listed peers. TAKKT sees one reason for this in its mature organizational structure. "We have lost speed with the current portfolio approach through the parallel management of diverse, stand-alone business models. The dynamic market environment, in contrast, requires quick decision-making and a clear focus," explains TAKKT CEO Felix Zimmermann the current situation.

As a result, the Supervisory Board and the Management Board of TAKKT AG today approved the new organizational approach TAKKT 4.0, which is based on three elements:

  1. Focusing with two business models on two customer types: The quality- and service-oriented versus the more price-conscious business customer. With this new focus, TAKKT wants to reduce complexity in the Group and best serve the different customer needs.
  2. Transforming the organization to allocate management responsibilities and functions at the relevant level, to create room for entrepreneurial spirit and to improve the scalability within the two business models. In addition, acquisitions can be integrated more easily within the future organizational set-up.
  3. Strengthening operational excellence to intensify the implementation of 'best practice' approaches and continuous improvement processes.

TAKKT will now focus on two business models in B2B distance selling: Omnichannel Commerce and Web-focused Commerce. TAKKT is thus aligning itself more consistently than before to two different customer types. While the Omnichannel Commerce segment tailors its products and services to the needs of quality- and service-oriented customers, the Web-focused Commerce segment addresses the more price-conscious customers. "We observe that both customer groups have very different requirements, which can best be met by separate business models that are focused on these needs," comments Zimmermann. The former KAISER+KRAFT, ratioform and NBF divisions will be part of the Omnichannel Commerce segment. Newport and Displays2go are assigned to the Web-focused Commerce segment. Hubert and Central will initially belong to the Omnichannel Commerce segment. However, both businesses are currently pursuing a slightly different business model than the other three omnichannel businesses. TAKKT is therefore currently exploring various strategic options for these two divisions.

As part of the organizational transformation, the respective segments will integrate business model specific functions and will get significantly more leeway in decision-making. The heads of the two segments will also be members of the TAKKT Management Board. While Heiko Hegwein will take over responsibility for the Omnichannel Commerce segment, TAKKT has started the search for a fourth member of the Management Board to lead the Web-focused Commerce segment.

Additionally, TAKKT sees untapped potential in the continuous improvement of its operations. The introduction of new management and steering methods and the recruitment of suitably qualified employees should intensify the implementation of best practice approaches and continuous improvement processes.

TAKKT expects a more customer-oriented setup from the organizational transformation, quicker decision-making processes, a clearer and more distinct market positioning for the two business models, and ultimately accelerated growth. "We are one of the market-leading omnichannel and web-focused distance-sellers in the B2B market and want to significantly increase our growth speed both organically and through acquisitions with the help of TAKKT 4.0," explains TAKKT CFO Claude Tomaszewski.

The Group's transformation will be implemented step-by-step and is expected to take two to three years. In the Omnichannel Commerce segment, the initial focus is on preparing the individual businesses for integration into the segment. The development of the Web-focused Commerce segment will start immediately after the appointment of the new member of the Management Board. TAKKT 4.0 builds on the strategic digital transformation initiative, which has already taken the first steps towards organizational change.

Felix Zimmermann and Claude Tomaszewski will present and explain TAKKT 4.0 during a conference call on November 12th at 3pm CET. To participate, you'll find the dial-in details shortly before the call at www.takkt.de/event.

TAKKT is the leading B2B direct marketing specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the subsidiaries comprises more than one million products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The TAKKT Group has over 2,500 employees. The company is listed on the SDAX and Deutsche Börse Prime Standard.

Dr. Christian Warns Tel. +49 (0) 711 3465-8222
Giuseppe Palmieri Tel. +49 (0) 711 3465-8250
Email: investor@takkt.de


11.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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