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Thyssenkrupp, Tata Steel name management board of European steel JV

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Thyssenkrupp, Tata Steel name management board of European steel JV

Confirming a previous report, thyssenkrupp AG and Tata Steel Ltd. named Andreas Goss, thyssenkrupp's steel unit head, as CEO of its proposed European steel joint venture.

In addition, the joint venture will have Hans Fischer, CEO of Tata Steel's European subsidiary, as deputy CEO and chief technology officer, Tata Steel Group Executive Vice President Finance Sandip Biswas as CFO, and thyssenkrupp Steel Europe CFO Premal Desai taking the role of chief strategy officer of the management team.

According to a Dec. 17 statement, the next management level of the thyssenkrupp/Tata Steel BV joint venture will be named in early 2019.

The 50/50 joint venture, which will employ about 48,000 workers and have about €17 billion in sales through its plants in Germany, the Netherlands and the U.K., will result in Europe's second-largest steelmaker behind ArcelorMittal.

The deal is subject to approval from EU antitrust regulators, which are making a deeper probe into the venture and raised expectations that the joint venture would need to shed assets to secure approval.