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Capital market-relevant press releases, Company News, 2019-06-14, 02:12 PM

Premal Desai new Chairman of the Executive Board of thyssenkrupp Steel Europe AG

From left:

Dr. Arnd Köfler, responsible for production, thyssenkrupp Steel Europe AG, Premal Desai, Chairman of the Executive Board of thyssenkrupp Steel Europe AG, Dr. Sabine Maaßen, responsibel for personnel and social policy, thyssenkrupp Steel Europe AG, Bernhard Osburg, Chief Commercial Officer, thyssenkrupp Steel Europe AG.

Premal Desai (50) becomes Chairman of the Executive Board of thyssenkrupp Steel Europe AG. In view of the cancellation of the joint venture, Andreas Goss (55) will resign from his position as Chief Executive Officer by mutual agreement as of June 15, 2019. Desai has been Chief Financial Officer of thyssenkrupp Steel Europe AG since 2015 and was previously Head of Strategy at thyssenkrupp AG.

In addition to Andreas Goss, Heribert Fischer (57) will also leave the Steel Board on June 15. Fischer will, however, remain with thyssenkrupp Steel Europe AG in an advisory capacity at the request of the company.

Bernhard Osburg (50), currently responsible for sales management in the Steel segment, will join the Executive Board of thyssenkrupp Steel Europe AG as Chief Commercial Officer. In this function, he will be responsible for all sales and innovation activities in the steel business.

The future Steel Executive Board will thus consist of only four members. Aside from Desai and Osburg, the Executive Board of thyssenkrupp Steel Europe AG will continue to include Dr. Arnd Köfler, responsible for production, and Dr. Sabine Maaßen, responsible for personnel and social policy. The responsibilities of the smaller Management Board will be realigned. In the future, Premal Desai will take over the strategy and planning function as well as the financial function and will lead the Management Board.

Guido Kerkhoff, CEO of thyssenkrupp AG: "We are pleased that we have appointed a new steel board member from our own ranks. Our steel business is facing major challenges. We have now put together a strong team that will tackle the tasks at hand quickly and develop a sustainable strategy for steel following the cancellation of the joint venture".

Premal Desai, future CEO of thyssenkrupp Steel Europe AG: "Shaping the future of steel is a challenging task. There's a lot to do. We look forward to tackling this together as management team. The market environment is not easy, but we are in a strong position and have a lot of potential. We'll build on that."

The future Steel Executive Board will thus consist of only four members. Aside from Desai and Osburg, the Executive Board of thyssenkrupp Steel Europe AG will continue to include Dr. Arnd Köfler, responsible for production, and Dr. Sabine Maaßen, responsible for personnel and social policy. The responsibilities of the smaller Management Board will be realigned. In the future, Premal Desai will take over the strategy and planning function as well as the financial function and will lead the Management Board.

Guido Kerkhoff, CEO of thyssenkrupp AG: "We are pleased that we have appointed a new steel board member from our own ranks. Our steel business is facing major challenges. We have now put together a strong team that will tackle the tasks at hand quickly and develop a sustainable strategy for steel following the cancellation of the joint venture".

Premal Desai, future CEO of thyssenkrupp Steel Europe AG: "Shaping the future of steel is a challenging task. There's a lot to do. We look forward to tackling this together as management team. The market environment is not easy, but we are in a strong position and have a lot of potential. We'll build on that."

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