Here's Who Tata Steel and thyssenkrupp Have Named to Lead Their European Joint Venture
12/17/2018 - Tata Steel and thyssenkrupp have assembled the senior leadership team for their planned European joint venture, naming a thyssenkrupp executive to oversee an entity that will be Europe’s second-largest steelmaker.
In an announcement Monday, the companies said Andreas Goss, who currently serves as the chief executive for thyssenkrupp's steel division, will oversee the joint venture as chief executive and chairman of the management board.
Hans Fischer, Goss’ counterpart at Tata Steel Europe, will serve as deputy chief executive and chief technology officer.
Sandip Biswas, who is the group executive vice president of finance at Tata Steel Ltd., was named chief financial officer, and Premal Desai, the chief financial officer at thyssenkrupp Steel Europe, will be the chief strategy officer.
“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,” said TV Narendran, chief executive and managing director of Tata Steel.
thyssenkrupp chief executive Guido Kerkhoff echoed those comments.
“The future management board is the right choice to build a strong No. 2 in the European flat steel market. 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. They will optimally set up the joint venture to address future challenges of the industry and meet the needs of the customers.”
Tata Steel and thyssenkrupp AG signed a deal in June 2018 to combine their European steel businesses in a 50-50 joint venture to be called thyssenkrupp Tata Steel B.V. The new company will be headquartered in Amsterdam.
The combination of the two operations is pending regulatory approval. The European Commission in October said it had launched an in-depth review of the joint venture on concerns that it could reduce competition.