Itron Restructures Executive Corps Company Moving Away From Emphasis On Products

Itron Inc. announced Friday a restructuring of its executive corps, the second major step taken this fall to return the maker of meter-reading equipment to sustained profitability.

More changes are likely, said Mima Scarpelli, who will become vice president for investor relations as part of the shakeup.

Three long-time executives will leave Itron. They are Larry Panattoni, chief administrative officer; Klaus Huschke, vice president international; and Michael O’Callaghan, vice president corporate relationships.

Executives in new or expanded positions at Itron are Andrew Alpert, William Browm, John Hengesh, Randi Neilson, Robert Neilson, David Remington, Dennis Shepherd and Russell Vanos.

Leroy Nosbaum will become chief operating officer.

A few vacancies remain to be filled.

The changes take effect Jan. 1.

Scarpelli said the restructuring will move Itron away from an emphasis on products. “We’re trying to get the organization focused on the needs of each customer group,” she said.

Also, she said, Itron will de-emphasize direct sales in Europe and rely more on distributors.

In September, Itron said 90 of its 500 Spokane employees would lose their jobs at year’s end, and took a $8.8 million charge to cover severance and other expenses.

Scarpelli said more reductions could be ordered as the new management team works to further flatten the organization’s structure.

Those decisions should be made by the mid-December, she said, adding further charges will be taken in association with those cuts.