Companies

Tata Steel, thyssenkrupp name new board for JV

Our Bureau Mumbai | Updated on December 17, 2018 Published on December 17, 2018

Tata Steel and thyssenkrupp have appointed Andreas Goss, current Chief Executive Officer of thyssenkrupp's steel division, as CEO of the Management Board of thyssenkrupp Tata Steel BV, the proposed joint venture company.

Hans Fischer, current CEO of Tata Steel Europe, will be the Deputy CEO and Chief Technology Officer of the joint venture. Sandip Biswas, currently the Group Executive Vice-President Finance of Tata Steel has been designated Chief Financial Officer, while Premal Desai, the current CFO of thyssenkrupp Steel Europe, will be the Chief Strategy Officer of the joint venture.

The new board members will continue in their existing roles within their businesses until the joint venture gets all regulatory approvals, said Tata Steel in a statement on Monday.

The next level of management team for the joint venture will be announced early next year, it added.

The board will be responsible for planning and execution of the post-merger integration and the long-term business strategy, once the planned joint venture receives regulatory approvals.

Tata Steel and thyssenkrupp AG signed definitive agreements in June 2018 to combine their European steel businesses in a 50:50 joint venture.

TV Narendran, Managing Director, Tata Steel, said the announcement of the designated Management Board with a combination of industry and leadership experience, marks an important step forward in establishing the planned joint venture.

Guido Kerkhoff, CEO of thyssenkrupp, said the board will lead the integration of the joint venture given their technical and operational expertise and intercultural experiences, besides addressing the future challenges of the industry.

Until the completion of the joint venture process, thyssenkrupp Steel Europe and Tata Steel in Europe will continue to operate as separate companies.

 

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Published on December 17, 2018
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