Capital market-relevant press releases, 2009-10-01, 09:00 AM
ThyssenKrupp implements new Group structure
At the start of the new fiscal year on October 1, 2009, ThyssenKrupp AG implemented the new Group structure. The Supervisory Board of ThyssenKrupp AG approved the Executive Board’s concept at its meeting on September 04, 2009. All necessary legal and organizational measures were implemented in good time. “With a more decentralized operational management and more a centralized strategic management, we will be in the position to react immediately to market developments and customer requirements in the future,” said Dr. Ekkehard Schulz, Executive Board Chairman of ThyssenKrupp AG about the focus of the new structure. “The reorganization strengthens ThyssenKrupp’s focus on its two strategic competency areas as an integrated materials and technology Group. The new organizational structure will promote a more direct and intensive cooperation within the Group and increase internal and external transparency. We are creating a fitter Group for the future.”
Parallel to the implementation of the reorganization, the Group has also introduced a new corporate design. Ten years after the merger, the logo and logotype have been combined to form a compact, distinctive and attractive form. The new brand will bring employees and companies tighter together. “The new logo is an expression of the unity and strength with which we will shape the future,” said Dr. Schulz.
The new structure of the ThyssenKrupp Group features three core elements: the new strategic Corporate Headquarters, the eight operating business areas and the new Business Services.
The new Corporate Headquarters will further consolidate the Group’s strategic and steering tasks. It will be a dependable partner to the business areas, freeing them of administrative duties and allowing them to concentrate on their operating business.
The eight business areas
The Group’s activities are focused on eight business areas within materials and technologies. They integrate similar business models and geographically related business activities. The business areas are organized into two divisions – Materials and Technologies – reflecting ThyssenKrupp’s key competency areas. Materials includes the business areas Steel Europe, Steel Americas, Stainless Global and Materials Services. The Technologies division is made up of the business areas Elevator Technology, Plant Technology, Components Technology and Marine Systems. Edwin Eichler, a member of the Group’s Executive Board, is responsible for the four business areas in the Materials division, and Dr. Olaf Berlien for the business areas within the Technologies division.
The Materials division focuses the Group’s worldwide materials activities:
-The Steel Europe business area brings together our premium flat carbon steel activities, from intelligent material solutions to finished parts. The product range includes custom tailored products made from steel sheets of different thickness, grade and finish.
-The Steel Americas business area will develop the American market for high-quality steel products. It includes the steelmaking and processing plants currently under construction in Brazil and the USA.
CEO of both the Steel Europe and the Steel Americas business areas is ThyssenKrupp AG Executive Board member Edwin Eichler.
-As a leading global supplier of stainless steel, the Stainless Global business area specializes in flat stainless steel products and high-performance materials such as nickel alloys and titanium. The business area also includes the new stainless steel mill in Alabama, which is being built in close cooperation with Steel Americas. The business area is managed by Clemens Iller.
-The Materials Services business area under the responsibility of Joachim Limberg is focused on industrial and raw material services all around the world, and particularly in Europe and the NAFTA region. Through integrated supply chain management, carbon and stainless steel, titanium, aluminum and plastics are delivered to our customers on time and prepared for further processing.
The Technologies division represents ThyssenKrupp’s technological capabilities.
-The Elevator Technology business area with its elevators, escalators, moving walks, passenger boarding bridges and stair lifts, keeps the world in motion. High quality, technological competencies and services such as maintenance and modernization secure the business area’s market position and provide new opportunities for growth. ThyssenKrupp AG Executive Board member Dr. Olaf Berlien is CEO of the Elevator Technology business area.
-Plant Technology – managed by Dr. Niclas Müller – is a leading international supplier of chemical plants, refineries, cement plants and innovative solutions for the mining and handling of raw materials and minerals. The business area’s plants and processes open up new possibilities for environmental protection and sustainable development.
-Components Technology has a broad and successful product range of efficient and innovative components for the automotive, construction and engineering sectors. Dr. Karsten Kroos is CEO of the business area.
-The Marine Systems business area offers expertise, outstanding products and strong innovative capabilities in the area of naval and civil shipbuilding – from fuel cell technology for submarines to sophisticated research vessels. It is managed by Dr. Hans-Christoph Atzpodien.
Business Services combine administrative services throughout the Group with a view to achieving higher quality and greater efficiency. The Business Services are focused on the areas of IT Services, Human Resources Services, Finance Services and Communication Services.
The new structure of the ThyssenKrupp Group will reduce administrative costs sustainably by up to €500 million. The savings are made up in roughly equal parts of material and personnel costs. The new organization with the Corporate Headquarters, the eight business areas and the new ThyssenKrupp Business Services will provide greater internal and external clarity and transparency, increase the Group’s effectiveness and efficiency and deliver greater drive and flexibility with regard to customers and markets.
“The reorganized ThyssenKrupp Group is strategically well positioned for the future, even in the current difficult economic environment. We have responded swiftly to the crisis and are using it as an opportunity for positive change. Within a few short months we have restructured and created a fitter Group for the future,” said Dr. Ekkehard Schulz.