Corning Incorporated announced on Wednesday that it is reorganizing its operating structure based on extensive analysis and leadership review. The new structure aligns executive management and business teams around five Market-Access Platforms (MAPs): Mobile Consumer Electronics, Optical Communications, Automotive, Life Sciences, and Display.
Corning’s MAPs are built to serve well-defined market ecosystems. Within each MAP, the company applies a combination of three core capabilities and four manufacturing and engineering platforms to bring value to current and future customers. The MAPs also provide a strong growth mechanism for Corning, creating opportunities to reapply and reuse assets and capabilities developed for customers in one market-ecosystem to serve customers in another. This strategy has contributed significantly to Corning’s strong performance over the last few years, and the reorganization announced today is designed to unlock new opportunities for valuable synergies.
“By organizing around the MAPs, we’re positioning Corning to capture more customer insights, further leverage our distribution channels, and open up new opportunities for innovation with industry leaders,” said Wendell P. Weeks, chairman and chief executive officer. “The new structure allows us to drive growth by activating the full power of our cohesive portfolio.”
Additionally, Corning has established a new leadership position that will drive operational excellence. Eric S. Musser, a 34-year Corning veteran, has been named to the expanded role of president and chief operating officer (COO), effective immediately. “I’m pleased that Eric Musser is assuming this important new role. He’s a transformative leader with a strong track record of execution across the company, and his expertise and industry knowledge will enhance our performance,” Weeks continued. “Eric’s demonstrated ability to consistently execute and hit targets will benefit our five MAPs.”
Please click here to view the full press release.
SOURCE: Corning
