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Thyssen interim CEO plans shake up of engineering unit – Report

Steel News - Published on Fri, 14 Sep 2018

Image Source: Reuters
Reuters quoted a source familiar with the matter as saying that Thyssenkrupp’s interim boss Mr Guido Kerkhoff is working on a restructuring of the German conglomerate’s plant engineering and shipbuilding division. The source told Reuters that Mr Kerkhoff is preparing to replace the unit’s head Peter Feldhaus and finance chief Stefan Gesing. The likely successor to lead the division is Marcel Fasswald, who would concentrate on turning the business around. The source said that shipbuilding should be split off from the unit and report directly to the managing board. The Handelsblatt newspaper was first to report the plan. Thyssenkrupp declined to comment.

Earlier three people familiar with the matter told Reuters that how Kerkhoff handled the engineering business was likely to influence whether he keeps the top job.

The 50-year-old Mr Kerkhoff, who served as finance chief under Hiesinger and was given the top job pending the appointment of a permanent successor, is seen as part of an ‘old guard’ that some investors say failed to turn around the group quickly enough, the people said. But a planned restructuring of the group’s ailing industrials division, which makes everything from submarines to chemicals plants, could allow him to show what he can do, they said.

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Posted By : Rabi Wangkhem on Fri, 14 Sep 2018
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