Barco (Euronext: BAR; Reuters: BARBt.BR; Bloomberg: BAR BB) has announced that it is redesigning its organizational structure.
We are told that previously Barco has worked with a matrix organizational structure consisting of geographic regions which handled sales, marketing and customer service functions and they in turn interacted with business units in the operational divisions. Under the revised organizational structure, regional sales will be folded into in the company’s business units together with product management, and research & development.
We understand that three senior execs have lost their jobs in the restructuring.
The company will hold a webinar on November 9, 2021 to introduce the (recently appointed) co-CEOs who will share their initial impressions and thoughts about how they plan to build for the future at Barco.