ThyssenKrupp Steel Europe AG is restructuring its management as
part of a program intended to increase profitability and
address the competitiveness of the groups steel division,
the company said Sept. 5.
As a result, the
Duisburg, Germany-based companys departments will be
reduced to 23 from 28.
Launched in February
2013, the program includes plans to cut 2,000 of ThyssenKrupp
Steel Europes 27,600 jobs by 2014-15, with another 1,800
employees potentially facing redundancy if divestments are
Thilo Lutz, executive
director for sales, will leave the company "by mutual consent"
on Sept. 30.
The executive board
will now consist of four members: Andreas Goss (chairman and
finance), Thomas Schlenz (human resources and social affairs),
Heribert Fischer (sales and innovation) and Herbert Eichelkraut
"We are rigorously
implementing our optimization program to enable us to be
successful in a difficult competitive climate. We want to be
best in class again," Heinrich Hiesinger, ThyssenKrupp Steel
Europes supervisory board chairman, said.
Parent ThyssenKrupp AG
has been trying to find a buyer for its loss-making Steel
Americas business for more than a year.
A version of this
article was first published in AMM sister publication Steel