The world’s leading global travel retailer, Dufry has announced that it is adapting its organisation to ‘the new business environment’ to accelerate growth and support profitability during the recovery phase of the economic crisis and beyond.

 

Dufry says the new organisational structure, effective from 1 September, 2020, will strengthen its business, not only at airports, but in the other travel retail channels in which it operates – including cruise ships, border stores, railways etc – ahead of a return to growth.

 

By integrating various headquarters and divisions, Dufry reveals that it will be reducing its country ‘clusters’ from 23 to just seven – plus North America which stands alone – ‘allowing smaller countries to be served from local shared service centres’.

 

All seven clusters will report to Eugenio Andrades who becomes new CEO Operations, with exception of North America, which will continue to report to Roger Fordyce, CEO North America.

 

As reported, Dufry Group launched a new crisis action plan to counter potential sales decreases of between 40-70% includes nimble cost-cutting measures dependent on the expenditure situation.

‘FLEXIBILITY AND AGILITY’

Speaking to analysts during a first quarter results conference call in May, Dufry Group Chief Executive Julián Díaz confirmed working assumptions that rent would take a 32.5% and 38% share of income in revenue decline scenarios of -40% and -70%, respectively, (compared to pre-IFRS 16 figures).

 

“Dufry’s new simplified organisation will allow us to adapt the company to the new business environment, by adding flexibility, agility and by accelerating the decision-making process,” said Díaz.

 

“The new organisation reduces costs by defining new responsibilities and directly managing operations from the headquarters. Combined with the successful strengthening of the financial structure achieved in April as well as the tight cost control and cash management initiatives implemented, Dufry is well prepared for the recovery phase of the tourism and travel industry.”

 

Reorganisation will involve the consolidation of all finance related functions, including controlling, accounting, treasury and financial shared services, led by CFO, Yves Gerster.

 

GLOBAL EXECUTIVE COMMITTEE SHRINKS BY TWO MEMBERS

Andrea Belardini, Chief Commercial Officer (left) will oversee the integration of all commercial activities, such as shop design, trade and digital marketing, category management and supply chain.

 

Chief Corporate Officer, Luis Marin will manage the consolidation of all corporate functions including HR, IT, strategy and M&A as well as control business development. He will be responsible for developing further synergies. José Antonio Gea, Deputy Group Chief Executive Officer, will report to the Group CEO and be responsible for the company restructuring and special projects.

 

Dufry’s new Global Executive Committee will consist of 8 members (previously 10 members):

Julian Diaz, Group Chief Executive Officer

José Antonio Gea, Deputy Group Chief Executive Officer

Yves Gerster, Chief Financial Officer

Eugenio Andrades, Chief Executive Officer Operations

Roger Fordyce Chief Executive Officer North America

Andrea Belardini, Chief Commercial Officer

Luis Marin, Chief Corporate Officer

Pascal Duclos, Group General Counsel

 

Dufry says that the previous members of the Global Executive Committee Rene Riedi, Chief Executive Officer Central and South America, as well as Javier Gonzalez, Chief Marketing and Innovation Officer, will continue to support the company with their wealth of experience.