Published on 18/12/2018 9:09:11 AM | Source: IANS

thyssenkrupp, Tata Steel announce executive leadership for planned JV

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Tata Steel and thyssenkrupp on Monday said Andreas Goss, currently Chief Executive Officer (CEO) of the steel division of the German multinational conglomerate, will chair the management board of the planned European steel Joint Venture (JV) between the two companies.

Two steel giants had signed definitive agreements in June 2018 to combine their European steel businesses in a 50/50 Joint Venture. The proposed new company, to be named thyssenkrupp Tata Steel B.V., headquartered in Amsterdam area, will be positioned as a leading pan-European flat steel producer.

"Andreas Goss, currently Chief Executive Officer (CEO) of thyssenkrupp's Steel division, will be the future Chief Executive Officer of the planned JV and chair the management board of it," a statement said.

Hans Fischer, currently the CEO of Tata Steel Europe, will be the Deputy CEO and Chief Technology Officer of the JV and Sandip Biswas, currently the Group Executive Vice President Finance of Tata Steel Ltd, is the designated Chief Financial Officer. Premal Desai, currently the Chief Financial Officer of thyssenkrupp Steel Europe, will be the Chief Strategy Officer of the company.

The Joint Venture is subject to merger control clearance in several jurisdictions, including in the European Union.

Until the completion of the JV process, thyssenkrupp Steel Europe and Tata Steel in Europe will continue to operate as separate companies.