In view of its size and the differences in market conditions and production flows, the steel operation of ThyssenKrupp is to be reorganized. The intermediate holding company Steel will be disbanded on 30, September, 2005, and the carbon and stainless steel activities will then be run as independent segments – ThyssenKrupp Steel and ThyssenKrupp Stainless. This also accommodates the future strategies of the two businesses. As a consequence of the disbandment of the intermediate holding company Steel, the supervisory board of ThyssenKrupp AG resolved in its meeting on 12 August to make corresponding changes to the organization of the executive board. The future organization will be based on the principle that each segment is represented by its CEO on the executive board of ThyssenKrupp AG. The executive board members not responsible for a segment will be in charge of the corporate departments at ThyssenKrupp AG.
