Further step on the road to a separate Stainless Global: New management line-up complete with appointment of CHRO
On May 13 ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably. This program includes optimization of the portfolio. The Group will be divesting businesses for which there are stronger alternative strategic options. The decision made by ThyssenKrupp AG to part with the activities of the Stainless Global business area is a key element in this.
Important steps have already been taken in establishing Stainless Global as a separate entity. They included the decision to structure it as a holding company with a functional management board, and the appointment of four new board members. Now the new management line-up of Stainless Global has been completed: Today the relevant bodies appointed Frank Brüggestrat (48) as Chief Human Resources Officer with effect from September 1, 2011. He previously worked in the same role for the Marine Systems business area of ThyssenKrupp AG.
As a separate entity, Stainless Global will be able to strengthen its competitive position with greater flexibility - also with a view to potential strategic partnerships. For this reason all options for continuing the business outside the Group are being examined with an open mind. The possibilities under consideration are an IPO, a spin-off or an outright sale. To prepare this step it is necessary to establish a separate structure for the transaction. This is fully on schedule. Intensive work is being carried out on the necessary organizational measures.
Important steps have already been taken in establishing Stainless Global as a separate entity. They included the decision to structure it as a holding company with a functional management board, and the appointment of four new board members. Now the new management line-up of Stainless Global has been completed: Today the relevant bodies appointed Frank Brüggestrat (48) as Chief Human Resources Officer with effect from September 1, 2011. He previously worked in the same role for the Marine Systems business area of ThyssenKrupp AG.
As a separate entity, Stainless Global will be able to strengthen its competitive position with greater flexibility - also with a view to potential strategic partnerships. For this reason all options for continuing the business outside the Group are being examined with an open mind. The possibilities under consideration are an IPO, a spin-off or an outright sale. To prepare this step it is necessary to establish a separate structure for the transaction. This is fully on schedule. Intensive work is being carried out on the necessary organizational measures.
These materials are not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in the United States or to, or for the account or benefit of U.S. persons (as such term is defined in the Securities Act) absent registration or pursuant to an available exemption from registration under the Securities Act. There will be no offer of securities in the United States. Neither Stainless Global nor any entity of Stainless Global nor ThyssenKrupp AG intend to register any securities referred to herein in the United States.
No comments:
Post a Comment