Profile and organizational structure
As an international group of companies with largely independent industrial and technology businesses we use our broad technological expertise to develop high-quality products and intelligent industrial processes and services. Under a strong umbrella brand we want to make an important contribution to a better and sustainable future with our products and services. Our brand promise is summed up in our slogan `engineering.tomorrow.together.´ Together with our customers we want to use our technologies and innovations to develop cost-effective and resource-friendly solutions to the challenges of the future. Our aim is to promote efficient use of resources and produce consumer and capital goods in a more eco-friendly way. Diversity and global reach define thyssenkrupp. We want to combine performance culture with entrepreneurial and social responsibility.
The high standards we set ourselves and our shared values are documented in our mission statement.
Organizational and management structure
thyssenkrupp is undergoing a transformation – resolved in May 2019 and further concretized in May 2020 – into a high-performance “group of companies” with a lean management model and a clearly structured portfolio. The organizational structure is also to be adjusted step-by-step in line with increasing changes in the portfolio and the stronger focus on performance. The aim is to establish a streamlined, efficient headquarters, reduce complexity in particular in administration and above all decentralize operating management decisions. In the past fiscal year we already made progress in implementing the new organizational structure. The tasks and structures of the Corporate Functions, regions and service units have been adjusted. The Corporate Functions have been reduced and some tasks reallocated to the service units. The regional headquarters have been reduced to regional platforms performing statutory governance activities and providing services required by the operating businesses in the respective regions. Effective October 1, 2020 the service units were combined in two lean-structured companies, thyssenkrupp Services GmbH and thyssenkrupp Information Management GmbH, to provide cross-cutting services to the businesses and headquarters. The services offered by the service units have been consolidated to match them more closely to demand from our businesses (more information can be found in “Strategy”).
Responsibility for the strategic management of the group remains with thyssenkrupp AG. To allow management of the company in close consultation with the businesses, we established the Executive Committee as a new steering body at the beginning of the past fiscal year. Its members include the Executive Board of thyssenkrupp AG, the CEOs of the segments and the heads of some Corporate Functions. This enables decisions made by the Executive Board to be more closely oriented to markets and customers as well as technologies, products and business-specific developments.