Naval shipbuilding is removed
ThyssenKrupp boss Kerkhoff rebuilds problem daughter
Thyssen Krupp Marine Systems in Kiel
Thyssenkrupp boss Guido Kerkhoff goes on the offensive with the conversion of the weakening plant construction subsidiary. The manager announced on Friday that naval shipbuilding from the field of Industrial Solutions will be separated and tied directly to the Group Board. In addition, the daughter will get a new leadership, the central task of which should be the rehabilitation of plant construction.
"We have now taken the necessary steps so that Industrial Solutions can concentrate fully on plant construction," emphasized Kerkhoff. In future, the marine business will be managed directly by Thyssenkrupp AG. Marine boss Rolf Wirtz is to report to personnel director Oliver Burkhard. With effect from 1 October, the former COO of the division, Marcel Fasswald, will also be appointed as the new CEO of the subsidiary, the group announced. Fasswald has the clear task to bring about the urgently needed turnaround in Industrial Solutions with his vast experience and expertise in plant construction.
Kerkhoff emphasizes his ambition on a permanent takeover of the chief post at the troubled conglomerate. He was after the resignation of Heinrich Hiesinger in July only as interim chief.
Head of Industrial Solutions as a fire chair for managers
Kerkhoff's "problem child" subsidiary recorded an operating loss of 224 million euros in the first nine months of the current financial year 2017/18 (as at the end of September), thereby thwarting the conglomerate's forecast. In financial year 2014/15, it had achieved a profit of more than 400 million euros. The subsidiary with more than 21,000 employees is fighting in the marine business with increased project costs and shrunken orders in large-scale plant construction. Already announced has been the reduction of about 2,000 jobs and savings in the hundreds of millions.
Earlier changes at the top of the range had no resounding success. The now divisional divisional director Peter Feldhaus had taken over the leadership only in May last year. In November 2016, the then divisional chief Jens Wegmann had to make mistakes in dealing with a distribution partner and take his hat off. The corporation had accused him of having accepted a bracelet for his wife from a Pakistani business partner as a gift. Wegmann meanwhile hired the steel dealer KlöCo.
IG Metall sees "clear commitment to shipbuilding"
IG Metall hopes that the subsidiary of the yard will become more important as a result of its connection to the AG. "We have no indication that a sale of the shipbuilding division is being prepared, on the contrary: We see the Group's decision as a clear commitment to shipbuilding," said IG Metall Coast District Manager Meinhard Geiken.
Rheinmetall and the French Naval Group were already interested in the arms business. In the marine area are about 6000 employees employed. In addition to locations in Kiel, Hamburg and Emden, this also includes Atlas Elektronik with its headquarters in Bremen.
By Tom Käckenhoff, Reuters
© manager magazine 2018
All rights reserved. Duplication only with the permission of manager magazin Verlagsgesellschaft mbH