Rising from the ashes? ThyssenKrupp’s American debacle and its aftermath
ThyssenKrupp ‘s disastrous foray into the Americas had led to drastic losses, massive debts and write-downs, the dismissal of long-serving CEO Ekkehard Schulz and the termination of three of its six executive board members in 2011. The new CEO, Heinrich Hiesinger, set out to rebuild the company, but by 2015, financial and business analysts were still unsure about the outlook for ThyssenKrupp – once synonymous with German steel and industrial might. This case looks at the the transformation of ThyssenKrupp undertaken by Hiesinger.
This case serves as a basis for a discussion of corporate governance.
ThyssenKrupp, Materials, Steel
2011-2014
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The literature indicates that the board of directors exists to provide resources and strategic direction (service task) and monitor top managers (control task), often tending to overgeneralize board tasks. Using a unique sample of 36 elite family ...
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