thyssenkrupp AG — Board/Management Information 2009

Mar 19, 2009

News Details

Ad-hoc | 19 March 2009 10:49

ThyssenKrupp AG: Strategic reorganization of ThyssenKrupp

ThyssenKrupp AG / Miscellaneous

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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STRATEGIC REORGANIZATION OF THYSSENKRUPP
Reorganization of the segments into two divisions - Executive Board reduced
by three members
Intensified economic downturn significantly impacting the Group

The economic situation in almost all countries and industries has
deteriorated in recent weeks with even greater speed and severity than
expected. The global economy finds itself in a deep recession. ThyssenKrupp
is adapting to the changed economic environment and positioning itself more
strongly as an integrated materials and technology Group. To this end the
Group is to be reorganized into two divisions. The aim is to sharpen the
focus of business activity and create a leaner, more efficient structure,
including in the administrative areas. This is expected to yield additional
sustainable cost savings of up to EUR500 million per year.

In an extraordinary meeting on March 27, 2009, the Supervisory Board of
ThyssenKrupp AG will be requested to approve the following items:

ThyssenKrupp will reorganize the five segments Steel, Stainless,
Technologies, Elevator and Services into two divisions. The Steel,
Stainless and Services segments will be combined in a new Materials
division. The Technologies and Elevator segments will be joined to form a
new Technologies division.

From April 1, 2009 the Steel segment headed to date by Dr. Karl-Ulrich
Köhler (52) and the Stainless segment headed by Jürgen H. Fechter (46) will
both be managed by Edwin Eichler (50), Executive Board Chairman of
ThyssenKrupp Services. Also as of April 1, 2009, the Elevator segment
headed to date by Edwin Eichler will be managed by Dr. Olaf Berlien (46),
who will also remain Executive Board Chairman of ThyssenKrupp Technologies.

The new Group structure is to be implemented as of the beginning of the new
fiscal year on October 1, 2009.

The planned adjustments at all levels of the administrative departments
will also be reflected in the Executive Board of ThyssenKrupp AG. Jürgen H.
Fechter and Dr. Karl-Ulrich Köhler, both members of the Executive Board of
ThyssenKrupp AG, are to stand down from the Executive Board by mutual
agreement at March 31, 2009. They will continue to be available to the
Group in an advisory capacity. No reappointment will be made for the
position held by Dr. Wolfram Mörsdorf (60), whose term of office is due to
end on April 14, 2009. In accordance with the resolution of the Supervisory
Board and as already reported at the Annual General Meeting on January 23,
Dr. Ulrich Middelmann (64), Vice Chairman of the Executive Board of
ThyssenKrupp AG, will stand down from the Executive Board of ThyssenKrupp
AG at the close of the Annual General Meeting on January 21, 2010.

Dr. Alan Hippe (42) - Chief Financial Officer of ThyssenKrupp AG effective
April 1, 2009 - will take over as of this date responsibility for
Controlling, Accounting and Financial Reporting, Taxes and Customs, Mergers
& Acquisitions, Materials Management as well as Corporate Finance and
Investor Relations. From April 1, 2009 until his retirement, Dr. Ulrich
Middelmann will concentrate on the implementation of the new Group
structure and on the corporate program ThyssenKrupp PLUS. He will also be
in charge of Compliance.

'With this structural and personnel reorganization, ThyssenKrupp will be
able to respond more quickly to the market and implement strategic measures
more efficiently. This means we are in the best position to emerge stronger
from this difficult economic situation,' says ThyssenKrupp's Executive
Board Chairman Dr. Ekkehard Schulz.

Provided the economic situation improves in the 2nd half of the year as a
result among other things of the economic stimulus programs introduced,
ThyssenKrupp expects to report positive operating earnings - before project
and restructuring costs - for the 2008/2009 fiscal year. Earnings will be
significantly affected by project costs for the new steel plants,
restructuring expenditure among other things for personnel measures, and
write-downs. The drastic slump in demand for carbon steel, stainless steel
and in international materials distribution is having a severe impact on
business at ThyssenKrupp. Some areas of the capital goods business - in
particular automotive supplies and civil shipbuilding - are also showing a
worse than expected earnings development. Earnings in the Elevator segment
remain very encouraging and are fully in line with expectations. Overall
ThyssenKrupp currently expects to report only slightly positive operating
earnings - before project and restructuring costs - in the 1st half of the
current fiscal year 2008/09. For the 2nd quarter a loss is therefore
expected. In particular the severe capacity underutilization and price
pressure as well as anticipated further write-downs on inventories will
weigh heavily on results.

Questions should be addressed o Dr. Jürgen Claassen (Communications and
Strategy, Tel. +49 211/824-36001) or Dr. Claus Ehrenbeck (Investor
Relations, Tel. +49 211/824-36464).
19.03.2009 Financial News transmitted by DGAP

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Language: English
Issuer: ThyssenKrupp AG
August-Thyssen-Str. 1
40211 Düsseldorf
Deutschland
Phone: +49-(0)211-824-1
Fax: +49-(0)211-824-36000
E-mail: info@thyssenkrupp.com
Internet: www.thyssenkrupp.com
ISIN: DE0007500001
WKN: 750000
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Hannover, Stuttgart, München, Hamburg;
Terminbörse EUREX

Weitere Informationen im Internet unter Investor Relations: Anleihen / Creditor Relations, Further information can be found on our website under Investor Relations: Bonds / Creditor Relations

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