MOL announces restructuring measures

1. Establishment of Chief Safety Officer
MOL will newly establish the position of Chief Safety Officer to supervise the planning of strategies and conduct measures to ensure the safety and quality of operations of MOL and the entire MOL Group fleet vessels, and give necessary advice to executive officers responsible for business divisions.

2. Establishment of Executive Officer Responsible for Promotion of Sustainability
MOL will newly establish a position of executive officer responsible for promotion of sustainability to supervise the planning of strategies and conduct and aggressively promote measures aimed at contributing to Sustainable Development Goals (SDGs) through MOL Group’s sustainable growth and business activities.

3. Establishment of Executive Officer Responsible for Europe/Africa and Executive Officer Responsible for the Americas
MOL will allocate an executive officer responsible for Europe/Africa and the Americas respectively, which up to the present have been supervised by one executive officer, to ensure faster decision-making and maximize the MOL Group’s overall profits in each region.

4. Restructuring of Ship Management Organization and Establishment of Marine Technical Management Division
With the aim of speeding up the establishment of countermeasures and preventative measures for onboard problems and enhance ship maintenance while ensuring the long-term safety and profitability of MOL’s vessel assets, MOL will integrate supervising functions of tankers, dry bulkers, car carriers, and containerships to establish the new Marine Technical Management Division to manage the fleet, with the goal of establishing MOL as the world leader in safe operation.

5. Dividing/Renaming Dry Bulk Carrier Division (B) and Renaming Dry Bulk Carrier Division (A)                                                                              MOL will divide the businesses of Dry Bulk Carrier Division (B) by cargo into the Wood Chip Carrier Division and the Bulk Carrier Division, to offer stressfree services to meet customer needs in both fields. And it will rename the Dry Bulk Carrier Division (A) the Iron Ore and Coal Carrier Division.

6. Renaming Steaming Coal Carrier Division
The Steaming Coal Carrier Division will be renamed the Steaming Coal & Energy Project Division, reflecting the role of the organization in providing coal transport services to meet changing customer needs, and engaging in related fields and energy projects such as coal ash and biomass, to offer stress-free transport services.