Power rental group Aggreko (AGK) has announced a reorganisation of its businesses, scrapping its regional structure in favour of two distinct segments - power solutions and rental solutions. Aggreko rental solutions will incorporate the group's local businesses in developed markets, while Aggreko power solutions will include its existing power projects business and local businesses in developing markets.
The restructuring is in response to a review of the group's business priorities, announced by new chief executive Chris Weston in March. The aim of the review was to understand the changes in Aggreko's end markets. The group's core business priorities will be announced on 6 August. The rental solutions business will be headed up by former director of the Americas division Asterios Satrazemis, while Mr Weston oversees power solutions on an interim basis as the group searches for a permanent leader.
