SALZGITTER (dpa-AFX) - The Supervisory Board of Salzgitter AG (SZGPF.PK, SZGPY.PK) approved the reorganization of the Group's structure submitted by the Executive Board. The Salzgitter Group will be divided into four segments instead of previously five. The Group's steel activities are to be recombined under the new, Steel Production, and, Steel Processing, business units. The changes will be effective effective April 1, 2022.
'The subsidiaries essentially participating in our SALCOS program are to be regrouped under the Steel Production Business Unit. The Steel Processing Business Unit will concentrate on the downstream links in the value chain and on customer processes,' said Gunnar Groebler, CEO of Salzgitter AG.
The Steel Production Business Unit will be headed by Ulrich Grethe. Burkhard Becker will assume responsibility for Steel Processing Business Unit in addition to his function as Salzgitter AG's CFO.
Volker Schult, head of the Trading Business Unit, will leave on December 31, 2022. Sebastian Bross will take over as head of the Trading Business Unit, effective January 1, 2023.
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