Organizational and management structure
Our business operations are organized in five business areas: Components Technology, Elevator Technology, Industrial Solutions, Materials Services and Steel Europe. With the sale of the Brazilian steel mill CSA in February 2017 the former sixth business area Steel Americas is reported as a discontinued operation until the closing of the sale in September 2017. The business areas are divided into business units and operating units. In 79 countries, 461 companies and 25 investments accounted for by the equity method are included in the consolidated financial statements.
The Group is led strategically by thyssenkrupp AG. Founded in 1999 as a stock corporation under German law, the company has dual domiciles in Essen and Duisburg. Our corporate headquarters is in Essen. The Executive Board of thyssenkrupp AG sets the strategy for the Group’s development and steers the business areas, the corporate functions, the regions and the service units. We define our strategic growth regions as North and South America, India, Asia/Pacific, Greater China, the Middle East and Africa. Our headquarters in these growth regions are located in Chicago, São Paulo, Mumbai, Beijing, Singapore and Istanbul. The regions of West Europe, Central and East Europe, the Commonwealth of Independent States, and the German-speaking region are managed from our headquarters via the various corporate functions.
The Group’s Strategic Way Forward is focused on concrete goals for the individual business areas and increased global connectedness and cooperation. Accordingly we operate in a multidimensional management structure (matrix structure) made up of operating businesses, corporate functions, regions, and service units. Within this structure clear roles and responsibilities, rules and standards for cooperation, and processes and reporting lines have been defined. The “Global Shared Services” unit combines the main transaction and administration processes in inhouse service centers – this ensures that on the administrative side too we stay competitive in terms of efficiency and performance. These are generally site-independent tasks such as certain accounting, IT, real estate service and HR sub-processes. Alongside the two German locations in Essen and Bochum we also operate regional service centers in Gdansk (Poland), Porto Alegre (Brazil), Alpharetta (USA) and Thane (India). A further center is currently being established in China.
The Group’s structure is routinely reviewed as part of the annual strategy process and adapted if required. This ensures that we remain competitive in line with current market conditions.