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Company News, 2008-04-25, 03:30 PM

New Strategic Product Development directorate at ThyssenKrupp Nirosta

The Supervisory Board of ThyssenKrupp Nirosta decided yesterday to expand the company’s Executive Board to include a new Strategic Product Development directorate with the aim of placing an even stronger focus on new materials, new finishes and new applications. Dr. Alfred Otto, to date Executive Board member responsible for the Sales directorate, will take over this new function. Karsten Lork, currently chairman of the Management Board of ThyssenKrupp Stainless International, will assume the position of Sales Director on the Executive Board of ThyssenKrupp Nirosta effective May 1, 2008.

The creation of this new Executive Board directorate will reposition the entire ThyssenKrupp Stainless group. In his new function, Dr. Alfred Otto will be responsible for the company’s strategic product development and will coordinate these activities in all areas of the segment. In this way, the company will place an even stronger emphasis on product and applications development throughout the segment in response to increasingly demanding customer requirements and growing international competition.

The strengthening of strategic product development will benefit both ThyssenKrupp Nirosta and all other companies in the ThyssenKrupp Stainless group: centralized management of this function will allow them to utilize competencies and synergy effects from all areas and target specialized product innovations.

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