Steel Products
Bertin Eichler To Leave ThyssenKrupp Supervisory Board
Written by Sandy Williams
January 14, 2013
Written by: Sandy Williams
ThyssenKrupp continues to cull members of its boards for roles in the failed ThyssenKrupp AG venture and for allegations of corruption. The latest member of a board to leave is Bertin Eichler, vice chairman of the ThyssenKrupp AG supervisory board. Eichler has been under investigation for misuse of company funds for foreign travel. Eichler will not run again for a board position in 2013
The investigation concerns trips that Eichler took trips with trade union representatives that were partly of a “touristic character.” According to the financial daily paper Der Handelsblatt, the trips included a side trip in Brazil to Rio de Janeiro and a Formula One racing event in Shanghai, among others.
Three executive board members were recently relieved of their duties, Olaf Berlien, Edwin Eichler, and Juergen Claassen, after an internal audit of their role in the Steel Americas project.
“The disaster with Steel Americas shows that our leadership culture has failed in many areas of the Company,” Chief Executive Officer Heinrich Hiesinger said last month. “There were obviously some who thought that rules, regulations and laws do not apply to everyone.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.
Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]
Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.
Steel caucus pushes US trade officials to maintain strong S232 program
The bipartisan Congressional Steel Caucus is pushing for US officials to maintain a robust Section 232 program as they negotiate trade deals with America's trading partners.