The repackaged Lundbeck under the new CEO, Kare Schultz, reported better than expected Q2 15 results (beating consensus by c.4%), sweetened further by an unexpected guidance upgrade. More critical, however, was the announcement of a major restructuring programme to cut down the total cost base by c.DKK3bn by 2017 (c.DKK1.5bn by 2016) and restore profitability. The programme includes – rationalisation of European commercial operations (management aims to cut headcount by c.1,000, 18% of
26 Aug 2015
Recovering and reorganising under the CEO’s ‘Kare’
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Recovering and reorganising under the CEO’s ‘Kare’
The repackaged Lundbeck under the new CEO, Kare Schultz, reported better than expected Q2 15 results (beating consensus by c.4%), sweetened further by an unexpected guidance upgrade. More critical, however, was the announcement of a major restructuring programme to cut down the total cost base by c.DKK3bn by 2017 (c.DKK1.5bn by 2016) and restore profitability. The programme includes – rationalisation of European commercial operations (management aims to cut headcount by c.1,000, 18% of