2009-10-06-Brambles set for Chep overhaul
Pallet maker Brambles Ltd will unveil a strategic review of its United States Chep pallet operations this week, with an overhaul of management, a split in the structure of its pallet business and a renewal of customer focus all on the agenda, The Australian newspaper reports.
Brambles chief executive Mike Ihlein will reveal the long-awaited move following mounting speculation among investors and analysts that changes will extend into head office, with senior executives including Mr Ihlein expected to depart within six months.
The company has declined to comment despite receiving a number of recent calls concerning the restructure, according to the paper.
Mr Ihlein was appointed chief executive officer of Brambles in 2007.
Brambles shares finished the session 1.67 per cent down at $7.65, against a slide of 0.6 per cent on the benchmark index.