thyssenkrupp and Tata Steel announce executive leadership for planned joint venture
Following the announcement of a joint European steel venture between Tata Steel and thyssenkrupp, the members of the future management board have been released.
Tata Steel and thyssenkrupp AG signed an agreement in June 2018 to combine their European steel businesses in a 50/50 joint venture. The proposed new company will be named thyssenkrupp Tata Steel B.V. and headquartered in the Amsterdam area. It will be positioned as a pan-European high-quality flat steel producer with a strong focus on performance, quality and technology leadership.
- Andreas Goss, currently CEO of thyssenkrupp’s Steel division, will be CEO of the planned joint venture and chair the management board of thyssenkrupp Tata Steel B.V..
- Hans Fischer, currently CEO of Tata Steel Europe, will be the deputy CEO & chief technology officer of the joint venture.
- Sandip Biswas, currently the group executive vice president finance of Tata Steel Ltd is the designated chief financial officer
- Premal Desai, currently the chief financial officer of thyssenkrupp Steel Europe will be the chief strategy officer of the joint venture.
The management board and the yet-to-be-confirmed top leadership team will be responsible for the planning and execution of the post-merger integration and the long-term business strategy.
T.V. Narendran, CEO and managing director of Tata Steel, said: “I firmly believe that the designated management board has a strong combination of industry and leadership experience needed to ensure a successful and sustainable future for the proposed thyssenkrupp Tata Steel joint venture. This marks an important step forward in our preparations towards establishing the planned joint venture.”
Guido Kerkhoff, CEO of thyssenkrupp said: “The future management board is the right choice to build a strong number two European flat steel supplier. I am fully convinced that this board will successfully lead the integration of the joint venture given their extensive technical and operational expertise as well as their broad intercultural experiences. They will optimally set-up the joint venture to address future challenges of the industry and meet the needs of the customers.“
Until the completion of the joint venture process, thyssenkrupp Steel Europe and Tata Steel in Europe will continue to operate as separate companies and as competitors and the members of the designated management board will continue in their existing roles within their businesses.