Thyssen stainless appoints

On May 13 ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably. The program encompasses portfolio optimization, change management, and performance enhancement.
In connection with the optimization of the portfolio, the Group will be divesting businesses for which there are stronger alternative strategic options. The Executive Board’s decision to part with the activities of the Stainless Global business area is a key element in this. Two major steps have now been taken towards the separation of Stainless Global at ThyssenKrupp:
The new management structure has been determined and the new Stainless Global management team selected. The new Stainless Global will have a holding company structure with a functional management board performing strategic tasks and managing the operating business units.
The process of establishing a separate transaction object is on schedule. Effective August 1, the Stainless Global management team will be made up of the following persons: Clemens Iller (50) will remain chairman of the management board of Stainless Global. Reinhard Florey (45), currently management board member of the ThyssenKrupp Steel Americas business area, will become CFO.
Karsten Lork (48), CEO of ThyssenKrupp Stainless International, will be responsible for global sales. Dr. Ulrich Albrecht-Früh (47) will be responsible for technology on the future management board of Stainless Global. A decision on the member of the board human resources will be made on August 19 as this has to be agreed first with the codetermination bodies.
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