December 17, 2018 / 12:39 PM / 3 months ago

Thyssenkrupp steel boss Goss to lead joint venture with Tata Steel

FRANKFURT/MUMBAI (Reuters) - Germany’s Thyssenkrupp (TKAG.DE) and India’s Tata Steel (TISC.NS) on Monday named the top management of their planned European joint venture, ending months of uncertainty over who will join the entity’s leadership.

FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

Andreas Goss, the head of Thyssenkrupp’s steel division, will become the chief executive of the entity, which will be Europe’s second-largest steelmaker after ArcelorMittal (MT.AS).

Hans Fischer, who is currently leading Tata Steel’s European division, will become deputy CEO and chief technology officer.

Thyssenkrupp and Tata Steel in June signed a final agreement to create the venture following years of talks, just days before a leadership crisis erupted at the sprawling German industrials group.

Sandip Biswas, a member of Tata Steel’s senior management, will become finance chief of the new entity, the groups said.

Premal Desai, who serves as the chief financial officer of Thyssenkrupp’s steel unit, will complete the board as chief strategy officer.

“The future management board is the right choice to build a strong number two in the European flat steel market,” Thyssenkrupp Chief Executive Guido Kerkhoff said.

“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 intercultural experiences.”

The appointment of Goss as CEO of the joint venture, which still requires antitrust approval by the EU Commission, was first flagged by Reuters earlier this month, as was the fact that the board would comprise four members.

Both groups had originally aimed to have six management board members for the 50-50 venture.

The next level management will be named in early 2019, the companies said.

Reporting by Christoph Steitz and Promit Mukherjee; Editing by Tassilo Hummel and Maria Sheahan

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