Thyssenkrupp Names New CEO for Industrial Solutions, to Split Unit
September 14 2018 - 4:16AM
Dow Jones News
By Alberto Delclaux
Thyssenkrupp AG (TKA.XE) said Friday it is appointing a new
chief executive to its struggling industrial solutions business,
which will be split as part of a reorganization.
The German conglomerate said it will sepearate the marine
business from the unit and manage it directly. Industrial solutions
will focus on plant engineering, Thyssenkrupp said.
Current Industrial Solutions Chief Operating Officer Marcel
Fasswald will become chief executive of the unit, while Oliver
Tietze will take over as chief financial officer. Both changes will
come into effect on October 1.
"Marcel Fasswald has the clear task of ensuring that Industrial
Solutions achieves the much-needed turnaround with his extensive
experience and expertise in plant construction," Thysenkrupp CEO
Guido Kerkhoff said.
The current CEO of industrial solutions, Peter Feldhaus, and the
CFO, Stefan Gesing, will both leave the company on Oct. 1, the
company said.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
September 14, 2018 04:01 ET (08:01 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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