Colep has announced it will split its business into two entities - Colep Packaging and Colep Consumer Products.
The RAR Group, Colep’s sole shareholder, will remain the 100% shareholder of both new entities.
The decision follows the realisation that, although serving similar industries, the packaging and contract manufacturing businesses of Colep are essentially different, both operationally and strategically.
According to Colep, the current marketplace requires companies to be more agile and act faster. This split will provide the respective management teams with the required autonomy and empowerment to meet its customers’ and the remaining stakeholders’ expectations and, therefore, to achieve its strategic ambitions.
Colep has started the legal procedures to complete this operation, which is expected to be official on 1 July this year.
To lead the new companies, Colep has appointed Paulo Sousa to become the CEO of Colep Packaging, and Pierfranco Accardo will become the CEO of Colep Consumer Products.
Sousa, currently the managing director of Coleps’s Packaging Division, has been with the company for around 20 years, having held commercial and operations leadership positions in both the consumer products and packaging divisions.
Accardo, currently managing director of the consumer products division, joined Colep in January this year, following a successful career in consultancy and contract manufacturing in the wellness, healthcare, and beauty industries. Before joining Colep, Accardo held CEO positions at Art Cosmetics and Chromavis Fareva.
Colep’s current healthcare division will become part of Colep Consumer Products and will continue to enjoy a high level of autonomy under the leadership of managing director Christian Schmidt.
Vitor Neves, Colep’s current CEO and future chairman of both new entities, said: “The step we are now taking is very important to empower the management team of each of our business to strengthen their position in their respective markets.
“I’m sure that Paulo [Sousa] and Pierfranco [Accardo] 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.”