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Tata Steel Europe's Chief Executive Departs for Another Position
02/25/2016 - Tata Steel Europe, which is in the midst of talks to sell its long products business, now finds itself undergoing a leadership change.
On 24 February, Tata announced that chief executive officer Karl Koehler is resigning to take a leadership position with an unidentified industrial business in Germany. Koehler will be succeeded by Hans Fischer, Tata Steel Europe’s chief technical officer.
Koehler also served as a Tata Steel Ltd. board member and managing director of Tata Steel Europe. Those board-level responsibilities are being handed to Koushik Chatterjee, who has been named Tata Steel’s executive director for Europe. Those duties will be in addition to his current responsibilities as a group executive director and member of the boards of Tata Steel and Tata Steel Europe.
In a statement, the company said Fischer will join the Tata Steel Europe board and will report to it. He’ll “seek advice and guidance relating to the business from Koushik Chatterjee,” the company said.
Tata has been in talks with investment firm Greybull Capital to sell its long products business. Those discussions are ongoing, and considering them, the Community labor union has concerns about the timing of Koehler’s departure, the union told The Guardian newspaper.
“This change in leadership comes at an extremely difficult time for the U.K. steel industry, so it’s important that the new team ... reaffirms the focus on creating a sustainable future for steel making in the U.K.,” said Roy Rickhuss, the union’s general secretary.
The union also said it is concerned about the fact that Fischer, as CEO, won’t have a place at the Tata Steel Ltd. board table.
“We will be seeking further clarification on this decision,” Rickhuss told the newspaper.
The (London) Telegraph reported that Koehler’s decision to leave wasn’t caused by his company’s current troubles – it has been battered by high energy costs and inexpensive imports and as a result has idled mills and laid off scores of workers.
“Karl joined as chief operating officer six years ago and always said this would not be his last job. Anyway, over the past few years there have always been big issues that the company has had to deal with,” an unidentified source told the newspaper.
Fischer’s appointment takes effect 1 March, but Koehler will remain available for “a short time” as an adviser. The company didn’t say for how long, and it also didn’t say where Koehler was headed, describing his new employer as a privately owned industrial business.
In a statement, Koehler said he believes Fischer is a capable executive.
“I am pleased that an individual with the experience and caliber of Hans Fischer will be taking over the role of chief executive officer,” Koehler said. “I believe the new leadership of Tata Steel Europe will continue the journey of making the company stronger in the challenging times the European steel industry is facing.”
Koehler also served as a Tata Steel Ltd. board member and managing director of Tata Steel Europe. Those board-level responsibilities are being handed to Koushik Chatterjee, who has been named Tata Steel’s executive director for Europe. Those duties will be in addition to his current responsibilities as a group executive director and member of the boards of Tata Steel and Tata Steel Europe.
In a statement, the company said Fischer will join the Tata Steel Europe board and will report to it. He’ll “seek advice and guidance relating to the business from Koushik Chatterjee,” the company said.
Tata has been in talks with investment firm Greybull Capital to sell its long products business. Those discussions are ongoing, and considering them, the Community labor union has concerns about the timing of Koehler’s departure, the union told The Guardian newspaper.
“This change in leadership comes at an extremely difficult time for the U.K. steel industry, so it’s important that the new team ... reaffirms the focus on creating a sustainable future for steel making in the U.K.,” said Roy Rickhuss, the union’s general secretary.
The union also said it is concerned about the fact that Fischer, as CEO, won’t have a place at the Tata Steel Ltd. board table.
“We will be seeking further clarification on this decision,” Rickhuss told the newspaper.
The (London) Telegraph reported that Koehler’s decision to leave wasn’t caused by his company’s current troubles – it has been battered by high energy costs and inexpensive imports and as a result has idled mills and laid off scores of workers.
“Karl joined as chief operating officer six years ago and always said this would not be his last job. Anyway, over the past few years there have always been big issues that the company has had to deal with,” an unidentified source told the newspaper.
Fischer’s appointment takes effect 1 March, but Koehler will remain available for “a short time” as an adviser. The company didn’t say for how long, and it also didn’t say where Koehler was headed, describing his new employer as a privately owned industrial business.
In a statement, Koehler said he believes Fischer is a capable executive.
“I am pleased that an individual with the experience and caliber of Hans Fischer will be taking over the role of chief executive officer,” Koehler said. “I believe the new leadership of Tata Steel Europe will continue the journey of making the company stronger in the challenging times the European steel industry is facing.”
