GenRad reorganises worldwide

GenRad reorganises worldwide

Keywords GenRad, Reorganisation

GenRad, Inc. has adopted a new organisational structure designed to foster more precise execution and accelerate growth. The new structure reorganises the company into three focused operations:

• 1.

  diagnostic solutions;

• 2.

  functional solutions; and

• 3.

  process solutions.

These line-of-business structures are designed to optimise GenRad's core competencies.

"We are, in essence, putting the entire organisation under one mantle to clarify our focus, enhance our execution and spur our sense of urgency. In doing so, we eliminate duplication and optimise our resources to create a more agile and competitive company," said Robert M. Dutkowsky, GenRad's chairman,president and chief executive officer.

GenRad said it plans no major reduction in personnel associated with its restructuring. The company will take a one-time charge against second-quarter earnings for senior management severance packages. Compensation for GenRad's employees – executives, management and individual contributors – will be revised to reward performance quarter-to-quarter. And the board of directors approved a substantial enhancement to our employee stock option program, making GenRad stock options available to virtually all employees.