Tata Steel, Thyssenkrupp appoint Goss as CEO for planned JV

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Tata Steel in its filing to the exchanges informed that the company with Thyssenkrupp has appointed Andreas Goss, currently Chief Executive Officer (CEO) of Thyssenkrupp's Steel division, as future Chief Executive Officer of the planned Joint Venture- Thyssenkrupp Tata Steel B.V. The announcement was made after market hours on Monday.
Tata Steel and Thyssenkrupp have signed an agreement in June 2018 to combine their European steel businesses in a 50-50 Joint Venture. The proposed new company will be named as Thyssenkrupp Tata Steel B.V, the company said in a press note.
Further, both the companies have decided on the members of the future Management Board for the JV. "Hans Fischer, currently the CEO of Tata Steel Europe, will be the Deputy CEO and Chief Technology Officer of the JV. Sandip Biswas, currently the Group Executive Vice President Finance of Tata Steel is the designated as Chief Financial Officer, while Premal Desai, currently the Chief Financial Officer of thyssenkrupp Steel Europe, will be the Chief Strategy Officer of the JV," the company said in a press note.
Apart from the above appointments, companies are planning to announce the next management level for the JV in 2019. "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," the company added.
Tata Steel Ltd's share price ended at Rs523.05, up by Rs9.65 or 1.88%, from its previous close of Rs513.40 on the BSE.
The scrip opened at Rs515.90 and touched a high and low of Rs524.10 and Rs515.90, respectively. A total of, 51,94,007 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs58,927.38cr.

































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