Photo Gallery ThyssenKrupp Faces Major Restructuring
German steelmaker ThyssenKrupp has just posted a loss of 4.7 billion euros and huge writedowns on mills in the US and Brazil. The supervisory board, responding to an internal report that exposed major errors and cover-ups, has sacked half the management board. The group faces a tough restructuring.
ThyssenKrupp's loss-Making steel plant near Rio de Janeiro. Losses and writedowns at this mill and one in the US, grouped in the subsidiary Steel Americas, pushed ThyssenKrupp to a 4.7 billion-euro loss this year.
Foto: Helmut Reuter/ dpa
Supervisory board chairman Gerhard Cromme last week sacked half the management board following an internal review which exposed serious management errors.
Foto: dapd
A ThyssenKrupp steelworker in Duisburg. The company now faces a difficult restructuring.
Foto: A3778 Fredrik von Erichsen/ dpa
ThyssenKrupp CEO Heinrich Hiesinger has vowed to fix the steelmaker's disaster.
Foto: Marius Becker/ dpa
Berthold Beitz, 99, the chairman of the Krupp Foundation, was among a small circle of confidants who were shown the internal report that prompted Cromme to dismiss several top executives.
Foto: Julian Stratenschulte/ picture alliance / dpa
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