Japan’s Mitsui OSK Lines (MOL) has kicked off an executive and management restructuring as it seeks to become a more diverse business.
A new position of group executive officer has been created to help integrate the company’s widening range of businesses.
MOL said the new position would serve as the “president of key group companies in MOL group management strategies, with the aim of linking such strategies and individual strategies of key group companies in an efficient manner.”
Company chief executive officer Takeshi Hashimoto is actively seeking to diversify the MOL business with the aim of becoming a “social infrastructure business” rather than a “traditional shipping business.” The new strategy will significantly increase the size of the MOL group companies.
The new group executive officer has not yet been named.
As part of the diversification this year MOL will complete the full acquisition of real estate company Daibiru Corp, and logistics company Utoc Corp, at a cost of $1.1bn in total.
Following the Daibiru acquisition MOL will establish a “Real Property Business Division” to incorporate the company into its business.
To keep on top of the company’s development new executive positions for “business process re-engineering” and for “structural reforms” has also been created which will replace existing positions.
MOL has also made further investments in the offshore windfarm and renewable energy sector.
From April the Energy and Offshore unit will be replaced by the Headquarters of Energy Unit to help incorporate its growing energy sector interests. The new unit will develop a structure that can promote lateral cooperation within the company.
Improving diversity
The company is also seeking to improve on its diversity through the recruitment of a chief human resources officer. MOL said the new position would take on diversity as a “high priority management issue.”
Safety will also be given a boost through the establishment of a Global Maritime Resources Division to develop seafarer recruitment strategies.
A new unit called the DX Co-creation Unit has been set up to manage the company’s digital transformation.
