Moneycontrol
Last Updated : Dec 17, 2018 06:30 PM IST | Source: Moneycontrol.com

thyssenkrupp executive Andreas Goss to head JV with Tata Steel Europe

The proposed venture will be called thyssenkrupp Tata Steel BV

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The proposed joint venture between Tata Steel and thyssenkrupp will be led by Andreas Goss, who is currently CEO of the latter's steel division.

He will become the future Chief Executive Officer of the planned joint venture, which will be called thyssenkrupp Tata Steel BV,  and chair the Management Board.

Tata Steel and thyssenkrupp AG had signed definitive agreements in June this year, to combine their European steel businesses in a 50/50 joint venture. The venture will be headquartered in Amsterdam.

Hans Fischer, the current CEO of Tata Steel Europe, will be the Deputy CEO & Chief Technology Officer of the new company. Sandip Biswas, who is currently the Group Executive Vice President, Finance, Tata Steel Limited, is the designated Chief Financial Officer, the Indian steelmaker said in a statement.

Premal Desai currently the Chief Financial Officer of thyssenkrupp Steel Europe will be the Chief Strategy Officer of the JV.

The JV is being currently probed by the European Commission, which wants to check if the proposed venture will hurt competition in the industry.

"The Management Board and the future top leadership team will be responsible for the planning and execution of the post-merger integration and the long-term business strategy once the planned Joint Venture has received the necessary regulatory approvals and after closing," said Tata Steel.

The statement added that until the completion of the JV process, thyssenkrupp Steel Europe and Tata Steel in Europe will continue to operate as separate companies and as 'competitors.'

"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.
First Published on Dec 17, 2018 06:15 pm
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