As part of metals and mining company Techint Group, Tenova has reorganised its businesses and reviewed its governance structures, with the appointment of former metals division CEO Roberto Pancaldi as Tenova CEO.
Former Tenova CEO Andrea Lovato has been appointed CEO of Tenova's Takraf business.
The changes are intended to steady Tenova around the two businesses in which the company operates – metals and mining, thereby enabling the company to better focus on each division's specific priorities, market approach and global presence.
Lovato says the extraordinary situation caused by the outbreak of Covid-19, at a global level, has accelerated the rethinking of Tenova’s business model and the definition of a new structure to better fit the complexity of the current business scenario, with a leaner structure and a clearer definition of roles.
This change will leave more autonomy to the respective CEOs in developing their businesses and in building their long-term sustainability while they concentrate on short-term consolidation and continuity.
“I am sure this reorganisation will help us to better focus our strategy and result in our steel and metals market offering being more solid,” says Pancaldi.