Mumbai: ThyssenKrupp on Friday announced the appointment of Premal Desai as the new Chief Executive Officer (CEO) for its steel division to oversee the restructuring of its business following the collapse of a proposed joint venture with Indian steel major, Tata Steel, in Europe. Thyssenkrupp Steel Europe and Tata Steel Europe had signed agreements on June 30, 2018, to create a 50:50 joint venture.
However, the European Commission had raised concerns over high prices for electrical steel, automotive steel and packaging among others in the event of the merger going ahead. The 50-year-old has been Chief Financial Officer (CFO) of ThyssenKrupp Steel Europe AG since 2015.
