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      Company News, Capital market-relevant press releases, 2019-06-14, 01:15 PM

      Premal Desai new Chairman of the Executive Board of 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 K?fler, responsible for production, and Dr. Sabine Maa?en, 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 Executive Board of thyssenkrupp AG thanks Andreas Goss and Heribert Fischer for their very successful work in the steel sector. Both have consistently developed the steel business further. Under the leadership of Andreas Goss, Steel Europe has maintained its leading market position in Europe in recent years even in an extremely challenging environment. The Executive Board of thyssenkrupp AG wishes Andreas Goss and Heribert Fischer great success for the future and all the best personally.

      Andreas Goss joined the Executive Board of thyssenkrupp Steel Europe AG on October 1, 2012. Since January 1, 2013, he has been Chairman of the Management Board and CEO since June 1, 2014. Prior to joining thyssenkrupp, Goss held various management positions at Siemens, most recently as Chief Executive Officer of Siemens UK and North West Europe.

      Heribert Fischer, with the company since 1990, has been a member of the Executive Board of thyssenkrupp Steel Europe AG since October 1, 2011. From 2013 to 2016, he was responsible for sales and since 2016 for production in the rolling and coating areas as well as for innovation and logistics. Previously Fischer was responsible for various production areas at thyssenkrupp Steel Europe AG.

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      Company blog: https://engineered.thyssenkrupp.com

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