On February 17th, Ricoh Company of Japan, announced new executive-management changes, including the elimination of a chairman and CEO for Ricoh Americas, which will include the departure of current Ricoh Americas Chairman and CEO Martin Brodigan, who will be leaving Ricoh.
The changes are said to enable Ricoh “better connect with customers and to help streamline the global headquarters and U.S. organizations.” It says these changes will allow Ricoh to focus on three business units:
- Office Solutions Business Group, led by Peter Stuart, executive vice president (EVP), Office Solutions.
- Office Services Business Group, led by Mona Abutaleb, EVP and general manager, Office Services.
- Commercial and Industrial Printing Business Group: led by Jeff Paterra, EVP, Commercial Printing and Industrial Printing.
The changes follow on the heels of an announcement last month, when Ricoh Company announced that it had appointed Yoshinori Yamashita as its new CEO and president, as well as representative director. Ricoh also reported that it’s “tackling changes in the business environment such as the decline in growth of office printing.”
In the past several years, Ricoh has suffered from declining profits, including in its office-imaging business, some of which it’s attributed to the negative effects of a stronger Japanese yen, which makes products sold outside of Japan less price-competitive.
All three business groups will be supported by Ricoh’s Shared Services Business Group, led by Jeff Briwick, EVP, Shared Services, which includes human resources, finance, IT, legal, supply chain, marketing and operations.
In its February 17th announcement, Ricoh Company stated: “This is a fundamental change to the way the individual lines of business are taken from R&D to market. By aligning to this global business unit structure, across the Americas, we will enhance our focus on key customer segments and create seamless alignment throughout Ricoh’s global value chain (from R&D, to production, design & development, marketing, planning and sales & service) and move away from individual departmental silos. These new business units report directly to Mr. Yoshinori Yamashita, the recently named president & CEO of Ricoh Company, Ltd.”
The dealer organization will continue to be led by Jim Coriddi, and Coriddi will report to Peter Stuart, executive vice president of Office Solutions Business Group, who will lead the sales organization in the Americas (United States, Canada, and Latin America).
Ricoh Company also stated: “Dealers remain an important part of Ricoh USA’s business, and within the new structure, there will be a more direct connection with RCL,” and “This change is a continuation of Ricoh’s ongoing transformation to a services-led organization and will allow us to better connect with our customers.”
- January 2017: New CEO and President at Ricoh as Company Seeks to ‘Tackle Decline in Office Printing’
- October 2016: Profits Slump at Ricoh, Records Loss for Second Half
- August 2016: Ricoh Revenue and Profits Slide for Quarter, Slashes Forecast, Sales for Imaging & Solutions Down by 10.6 Percent
- July 2016: Ricoh India Chairman and Director Takano Resigns in Wake of Accounting Scandal
- July 2016: Ricoh India’s Full-Year Loss Estimated to Be 17.1 Billion Yen in Wake of Accounting Scandal
- June 2016: Ricoh India Suspends Top Officers in Wake of Financial Irregularities
- May 2016: Sales Up, But Profits Down for Ricoh’s Fiscal Year
- February 2016: Slight Dip in Profits for Ricoh’s Nine Months; Strong Sales of Production Printers
- November 2015: Modest Gains for Ricoh’s Latest Quarter Aided by Digital-Imaging Sales, Weaker Yen
- April 2015: Earnings Slump at Ricoh for Fourth Quarter and Full Fiscal Year
- October 2014: Ricoh Reports Robust Income, Steady Sales Gains for First Half of Its Fiscal Year
- April 2014: Ricoh Reports Robust Financial Results for Fiscal Year
- February 2014: Ricoh Reports Strong Financial Results, Raises Outlook
- November 2013: Sales, Net Income Up for Ricoh Japan’s Second Quarter, Fiscal Half-Year, Pushes Forcast Up