Thyssen Krupp Stahl, Europe's fourth largest carbon steelmaker and the world's largest maker of stainless steel, is working hard to establish itself as a global player. Having seen Usinor merge with Arbed and Aceralia to dominate the European producers, the German company must regain confidence after the aborted flotation from its parent group last year.Following the merger of Thyssen and Krupp, the two companies' top management structure was exposed to political sensitivity. Several large shareholders were exerting pressure on long-standing supervisory board chairman Heinz Kriwet to resign, making way for executive board co-chairmen Gerhard Cromme (ex-Krupp) and Ekkehard Schulz (ex-Thyssen) to advance their positions. At a board meeting in March, Kriwet agreed to step down as supervisory board chairman in September, permitting the election of Cromme as chairman of the board and Schulz as executive board chairman. Currently, Schulz is chairman of Thyssen, the steelmaking arm of Thyssen Krupp AG. Kriwet will remain a member of the board.
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