Andreas Goss will be the chief executive officer of Thyssenkrupp Tata Steel B.V., the proposed joint venture between Tata Steel and Thyssenkrupp.
Mr. Goss is currently the chief executive officer of Thyssenkrupp’s steel division.
He would chair the management board of Thyssenkrupp Tata Steel B.V., according to a statement from Tata Steel. Hans Fischer, now the CEO of Tata Steel Europe, would be the deputy CEO and chief technology officer of the JV. Tata Steel and Thyssenkrupp on Monday had decided on the members of the future management board for the JV to be headquartered in Amsterdam.
Tata Steel and thyssenkrupp AG signed definitive agreements in June 2018 to combine their European steel businesses in a 50:50 joint venture to be positioned as a leading pan-European high-quality flat steel producer with a strong focus on performance, quality and technology leadership.
Sandip Biswas, currently the group executive vice-president, finance of Tata Steel Limited, is the designated chief financial officer, while Premal Desai, the current CFO of thyssenkrupp Steel Europe, will be the chief strategy officer of the joint venture.
The joint venture is subject to merger control clearance in several jurisdictions, including in the European Union.
T. V. Narendran, CEO and MD of Tata Steel, said: “I firmly believe that the designated management board has a strong combination of industry and leadership experience needed to ensure a successful and sustainable future for the proposed thyssenkrupp Tata Steel Joint Venture. This marks an important step forward in our preparations towards establishing the planned joint venture.”
Guido Kerkhoff, CEO of thyssenkrupp, said: “The future management board is the right choice to build a strong number two European flat steel supplier. I am fully convinced that this board will successfully lead the integration of the joint venture given their extensive technical and operational expertise as well as their broad inter-cultural experiences. They will optimally set-up the joint venture to address future challenges of the industry and meet the needs of the customers.”
Both companies remain committed to constructive engagement with the European Commission as part of the ongoing regulatory review process. Both parties are working together to ensure the success of this transaction as soon as possible.
Until the completion of the joint venture process, thyssenkrupp Steel Europe and Tata Steel in Europe will continue to operate as separate companies and as competitors and the incumbent organisation of the respective companies will continue to operate as currently. The members of the designated management board will continue in their existing roles within their businesses until the formation of the joint venture post all regulatory approvals, said the statement.
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