Thyssenkrupp Appoints Jens Schulte as CFO in Ongoing Turnaround Efforts

Thyssenkrupp Appoints Jens Schulte as CFO in Ongoing Turnaround Efforts

German conglomerate Thyssenkrupp announces the appointment of Jens Schulte as its new CFO, as part of the company’s ongoing efforts to accelerate its turnaround under CEO Miguel Lopez.

Thyssenkrupp, the German conglomerate, has announced the appointment of Jens Schulte as its new Chief Financial Officer (CFO). Schulte, currently the finance chief of German speciality glass maker Schott AG, will succeed Klaus Keysberg, who has decided not to seek an extension after his contract expires in July 2024. The appointment of Schulte is seen as a strategic move by Thyssenkrupp to strengthen its financial position and drive further progress in its ongoing turnaround efforts.

A Finance and M&A Expert with a Proven Track Record

Jens Schulte, a former executive at Siemens AG, brings a wealth of experience in finance and mergers and acquisitions (M&A) to his new role as CFO of Thyssenkrupp. Schulte played a crucial role in the initial public offering (IPO) of Schott AG’s medical vials manufacturer, Schott Pharma. His expertise in both listed and private companies makes him well-suited to guide Thyssenkrupp through its financial transformation.

Continuation of Thyssenkrupp’s Restructuring Under Lopez’s Leadership

Since taking over as CEO, Miguel Lopez has been driving an accelerated turnaround at Thyssenkrupp. Under his leadership, the company has undertaken various initiatives to streamline operations and improve financial performance. This includes the listing of Thyssenkrupp’s hydrogen division and the launch of a performance program aimed at enhancing efficiency and profitability.

Expansion of Thyssenkrupp’s Management Board

In addition to the appointment of Jens Schulte, Thyssenkrupp has also decided to expand its management board by two members. One of the new members is Volkmar Dinstuhl, who played a pivotal role in the landmark sale of Thyssenkrupp’s elevator division to a private equity firm in 2020. This move is expected to bring additional expertise and strategic guidance to the company’s management team.

A Promising Future for Thyssenkrupp

The appointment of Jens Schulte as CFO and the expansion of the management board signal Thyssenkrupp’s commitment to its ongoing transformation. With a focus on financial stability, operational efficiency, and strategic decision-making, the company aims to position itself for long-term success. The combination of Schulte’s financial acumen and Lopez’s leadership will likely drive further progress in Thyssenkrupp’s turnaround efforts.

Conclusion:

Thyssenkrupp’s appointment of Jens Schulte as CFO marks another significant step in the company’s ongoing turnaround under CEO Miguel Lopez. Schulte’s expertise in finance and M&A, combined with the expansion of the management board, reflects the company’s commitment to strengthening its financial position and driving operational excellence. As Thyssenkrupp continues its restructuring journey, the company is poised for a promising future, leveraging the expertise of its new leadership team to navigate the challenges and opportunities ahead.