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TK Steel Europe restructuring management

Keywords: Tags  ThyssenKrupp Steel Europe, Thilo Lutz, Andreas Goss, Thomas Schlenz, Heribert Fischer, Herbert Eichelkraut, Heinrich Hiesinger, Lisa Barrington

LONDON — ThyssenKrupp Steel Europe AG is restructuring its management as part of a program intended to increase profitability and address the competitiveness of the group’s steel division, the company said Sept. 5.

As a result, the Duisburg, Germany-based company’s departments will be reduced to 23 from 28.

Launched in February 2013, the program includes plans to cut 2,000 of ThyssenKrupp Steel Europe’s 27,600 jobs by 2014-15, with another 1,800 employees potentially facing redundancy if divestments are made.

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 (production).

"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 Europe’s 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 First.

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