Thyssenkrupp : reorganizes Business Area Industrial Solutions

• Marine business to be separated from the Business Area Industrial Solutions and managed directly by thyssenkrupp AG

• Concentration in Industrial Solutions on the restructuring of plant construction

• New Executive Board Members for thyssenkrupp Industrial Solutions AG: Marcel Fasswald new CEO, Oliver Tietze new CFO

The technology and industrial group thyssenkrupp is reorganizing its Business Area Industrial Solutions (marine and plant engineering). In this context, the marine business will be separated from the business segment and managed directly by thyssenkrupp AG. Therefore, Industrial Solutions will concentrate on plant engineering.

With this strategic focus, the Board of Management at Industrial Solutions is also being reorganized. Effective October 1, 2018, Marcel Fasswald (48), currently Chief Operating Officer (COO) of Industrial Solutions, will be appointed as the new CEO. Oliver Tietze (46), previously CFO and COO of the global project management organisation unit at Industrial Solutions, will also take over as CFO effective October 1, 2018.

Guido Kerkhoff, CEO thyssenkrupp AG: 'We have now undertaken the necessary steps to enable Industrial Solutions to concentrate entirely on plant construction. 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. Oliver Tietze, a manager with many years of experience in the company, will support him.'

Marcel Fasswald is an internationally experienced plant engineering expert and has been a member of the Board of Management of Industrial Solutions since April 2018. Before joining thyssenkrupp, he was CEO of the SMS Group in India for seven years before taking over the position of global Chief Technology Officer (CTO) and Chief Operating Officer (COO) of the SMS Group.

Oliver Tietze has been with the thyssenkrupp Group for over 13 years. In his previous roles as Chief Financial Officer (CFO) and Chief Operating Officer (COO) of the global project management organisation, he already has played a central role in the ongoing transformation of Industrial Solutions. Before joining Industrial Solutions, the industrial engineer held various management positions in the Steel, Materials Services and Elevator divisions.

Kerkhoff continues: 'The Executive Board of thyssenkrupp AG explicitly thanks the two former Executive Board members Peter Feldhaus and Stefan Gesing for their long-standing and trusting cooperation. During their time at thyssenkrupp, both have rendered outstanding service to the company in a wide variety of roles and have accepted responsibility even in difficult situations'.

Peter Feldhaus, currently CEO of Industrial Solutions, will leave the company on October 1, 2018. As Head of Strategy, Feldhaus had initially been responsible for thyssenkrupp's strategic development since September 2015, before becoming CEO of thyssenkrupp Marine Systems in October 2016. In May 2017, he took over as CEO of Industrial Solutions and since then has set the course for the division's future.

Stefan Gesing, currently CFO of Industrial Solutions, will also leave the company on October 1, 2018. Gesing was appointed to the Management Board of Industrial Solutions AG in May 2016 and, after a short time, temporarily took over its chairmanship. Previously, as Head of Controlling, Accounting & Risk at Group headquarters, he successfully managed thyssenkrupp AG's business processes for many years.

thyssenkrupp's naval business is one of the world's leading system suppliers for surface ships and non-nuclear-powered submarines. To enable Industrial Solutions to concentrate on the transformation process in plant construction and the associated restructuring measures, thyssenkrupp Marine Systems GmbH, headquartered in Kiel with additional sites in Hamburg, Bremen and Emden, will be spun off from Industrial Solutions and managed directly by thyssenkrupp AG as of October 1, 2018. Naval chief Rolf Wirtz will report to Oliver Burkhard, member of the Executive Board of thyssenkrupp AG.

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