Germany’s largest steel manufacturer is still part of the industrial group Thyssenkrupp, but for how long? The Essen-based company wants its loss-making subsidiary to become independent.
The steel division of the industrial group Thyssenkrupp has reorganized its management team. With these personnel decisions, the company hopes to find some calm after the recent turbulence surrounding the future of the steel division.
Ilse Henne, a member of the board of the parent company Thyssenkrupp, is the new chairwoman of the steel company’s supervisory board, as the company announced in Duisburg. The deputy chairwoman of the supervisory board is IG Metall representative Knut Giesler.
Henne will succeed Sigmar Gabriel. The former Federal Minister of Economics and SPD politician resigned from his position as chief auditor of Thyssenkrupp Steel in August. This was preceded by a dispute lasting several weeks between the steel subsidiary and its parent company.
Interim boss becomes permanent solution
The board of directors is also being reorganized. Following a decision by the supervisory board, interim CEO Dennis Grimm will become the permanent solution. He will assume all operational responsibility as well as the technological management and further development of the company, it was announced. He will also be responsible for the technological implementation of the green transformation. His predecessor also abruptly left the company in August, together with two other board members.
Marie Jaroni, a manager already working for the group, will be responsible for a new board department from October, which will be responsible for “the strategic development and performance-oriented management of the company towards greater competitiveness”. Further personnel decisions will follow later.
Supervisory board member is confident
“The reorganization of Thyssenkrupp Steel is making progress,” said the new Supervisory Board Chairwoman Henne. “With the new appointments to the Supervisory Board and Executive Board, we want to tackle the major challenges of structural realignment, independence and green transformation together.”
It is now time to set the course for a successful future for the company with the parent company and employee representatives. “The remaining vacant positions on the board of directors will be filled as quickly as possible,” said Henne.
Germany’s largest steel manufacturer is in a difficult situation. It faces an uncertain future. The loss-making Duisburg-based company with around 27,000 employees is to be restructured and made independent, among other things through the entry of Czech billionaire Daniel Kretinsky, who already holds 20 percent.
In the summer, there was a heated debate between the group’s management and the steel management at the time about the extent of the restructuring and the financial resources provided by the parent company on the way to independence.
Source: Stern
