Toll Holdings Limited (ASX:TOL) has outlined plans for a business restructure which is expected to annually generate savings of between $10 million to $12 million.
The transport and logistics company will consolidate its six divisions to five from the beginning of the new 2015 financial year.
As part of the divisional restructure long-serving directors Paul Ebsworth and Wayne Hunt will leave the company.
Managing Director Brian Kruger says it is critical Toll Holdings reduces complexity and costs, improves its productivity and builds on its strengths.
Toll Holdings reported a net profit of $176 million in the first half of the 2014 financial year.
