Bloomberg News

ThyssenKrupp Hires Achatz as Siemens Restructures Research

February 15, 2012

(Updates with Siemens restructuring in third paragraph.)

Feb. 15 (Bloomberg) -- ThyssenKrupp AG, Germany’s largest steelmaker, said it’s hiring Reinhold Achatz of Siemens AG as head of corporate center, innovation and quality.

Achatz, who was Siemens’s research chief, will start at Essen-based ThyssenKrupp on April 1, the company said, confirming an earlier report by Sueddeutsche Zeitung.

Siemens bundled responsibilities for software engineering and development with corporate innovation in 2008, giving Achatz oversight of both. The activities, overseen by board member Klaus Helmrich since April 2011, will now undergo some restructuring, spokesman Wolfram Trost said, without elaborating.

ThyssenKrupp hired Heinrich Hiesinger, who has sat on Siemens’s management board, as chief executive officer in January 2011, fuelling speculation the two companies may move closer together. Gerhard Cromme is chairman of the supervisory boards at both companies.

--Editors: Robert Valpuesta, Andrew Noel.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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