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USEC Announces Organizational Changes

Stocks in this article: USU

USEC Inc. (NYSE:USU) today took initial steps in its previously announced process to change its organizational structure in order to better align its management team and workforce with the Company’s future business environment. Two senior vice presidents will leave the company in the near term, and changes will occur to the reporting structures of several headquarters functions.

Lance Wright, senior vice president of human resources and administration, will turn over duties for that position effective April 2 to focus until his retirement in May on the organizational structure review effort now under way. Christine Ciccone, senior vice president of external relations, is leaving the company effective April 13.

USEC announced last month that in early 2012 an internal review of its organizational structure began, and the Company had engaged a management consulting firm to support this review. Among the goals of the review are reduced costs, a consolidation of functions to align with future operations, clear lines of responsibility and fewer layers of management.

“USEC is taking the necessary steps to evolve from our legacy operations to position the Company to reduce costs and improve our competitive profile,” said John Welch, president and chief executive officer. “In this year of transition, we will become a company with a cost structure and staff that is in alignment with the work we have before us. As the company gets smaller, we need to consolidate functions and streamline activities while remaining focused on delivering quality products to our customers.

“Lance Wright’s years as an effective leader of the human resources and administration function makes him uniquely qualified to help complete the first phase of the organizational review now underway,” Welch said. “Christine Ciccone has my personal thanks for her skilled oversight of our external relations functions and her capable management of complex issues before the government and other external stakeholders.”

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