Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

thyssenkrupp is restructuring the top management of its materials servicing business, which also manages the German company’s steel division.


Martin Stillger will succeed chief executive officer (CEO) Dr. Klaus Keysberg as chairman of the executive board of thyssenkrupp Materials Services. 


Keysberg moved to thyssenkrupp’s executive board on October 1, 2019, where he’s responsible for Steel Europe and Materials Services. Stillger, who has held various positions at the German conglomerate, was most recently chief executive officer of thyssenkrupp Schulte and the Western Europe and Technical Services operating units.


Additionally, thyssenkrupp announced that Ilse Henne, who was appointed chief operating officer on January 1, 2019, will take on the new position of chief transformation officer at the Materials Services division to drive transformation and growth at the biggest materials distributor and service provider in the Western world. The role of chief operating officer will remain vacant.


thyssenkrupp plans to sell its elevator division and make its steel division its core profit driver. However, the amount of investment needed for this change in business strategy remains unclear. Keysberg has indicated the scope for additional resources in the steel division is limited at present.   

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