(Reuters) -Thyssenkrupp on Wednesday said that Jens Schulte, finance chief of German privately-held speciality glass maker Schott AG, would become its new CFO, marking the conglomerate’s latest move in its accelerated turnaround since CEO Miguel Lopez took over.
Schulte, a key driver behind the IPO of Schott AG’s medical vials manufacturer Schott Pharma, will succeed Klaus Keysberg, who decided not to seek an extension after his contract runs out on July 31, 2024.
Schulte, who like Lopez held executive posts at Siemens AG in the past, is expected to take on his new position in the second half of Thyssenkrupp’s fiscal year, which starts on April 1, the company said.
Keysberg has served as Thyssenkrupp’s CFO since April 2020.
“With the appointment of Jens Schulte as new CFO, we are gaining a finance and M&A expert with a proven track record in both listed and private companies,” Thyssenkrupp Supervisory Board Chairman Siegfried Russwurm said.
Since taking office, Lopez, a former manager at Siemens Gamesa, has taken several steps to speed up Thyssenkrupp’s restructuring, including listing its hydrogen division and launching a performance programme.
Thyssenkrupp also decided to expand its management board by two members, including Volkmar Dinstuhl, the main architect of the group’s landmark sale of its elevator division to private equity in 2020.
(Reporting by Christoph Steitz, Editing by Victoria Waldersee)
