Reorganization Leverages Company's Global Reach to Increase
Profitability, Strengthen Competitiveness and Solidify Position as the
Worldwide Leader in Innovative Solutions Designed For Utilities
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--
Itron Inc. (NASDAQ:ITRI) announced today a reorganization to deliver
simple, focused operations for greater growth and efficiency. The new
structure better enables Itron to meet its near- and long-term goals by
strategically aligning global operations with the markets it serves.
Utility customers will benefit from global mind-share and expanded
technology options.
Effective immediately, Itron's global organization will begin operating
in two primary segments, Energy and Water, establishing a unified
approach to serving global markets. Philip Mezey, currently Senior Vice
President and Chief Operating Officer, Itron North America, will become
President and Chief Operating Officer—Energy. Marcel Regnier, currently
Senior Vice President and Chief Operating Officer, Itron International,
will become President and Chief Operating Officer—Water. This new
alignment provides a deeper focus on solving Itron's customers' critical
business challenges through technology investments and global
best-practices. Itron's ability to successfully deliver across many
markets reinforces its competitive position.
"Itron will continue to be a leader in the industry, and we want to
accelerate positive change and growth. To accomplish this, we need to do
more than just evolve, we need to transform," said Malcolm Unsworth,
Itron's President and Chief Executive Officer. "This reorganization
gives us more agility to execute on our vision for the company, which
includes growing revenue, expanding our global presence, broadening our
product portfolio and streamlining our operations."
This move will significantly improve operational efficiencies through a
range of near- and long-term actions, including unifying back-office IT
and financial systems, allowing Itron to automate processes for faster
decision making, while building upon global systems that will
dramatically lower operating expenses over time.
Uniting both market focus and internal systems create an environment for
easier collaboration and faster innovation. Aligning resources and
sharing experiences help generate ideas for new products in broadening
markets. Global cooperation is the key to solving pressing challenges
across all markets.
About Itron:
At Itron, we're dedicated to delivering end-to-end smart grid and smart
distribution solutions to electric, gas and water utilities around the
globe. Our company is the world's leading provider of smart metering,
data collection and utility software systems, with nearly 8,000
utilities worldwide relying on our technology to optimize the delivery
and use of energy and water. Our offerings include electricity, gas,
water and heat meters; network communication technology; collection
systems and related software applications; and professional services. To
realize your smarter energy and water future, start here: www.itron.com.
Itron
Ranny Dwiggins, 509-891-3443
Vice President, Investor
Relations
ranny.dwiggins@itron.com
or
Sharelynn
Moore, 509-891-3524
Director, Itron Marketing & Communications
sharelynn.moore@itron.com
Source: Itron Inc.
News Provided by Acquire Media
