DETAILS ON THYSSENKRUPP COMPANY SPLIT

thyssenkrupp has progressed on its path to planned separation, announcing leadership structures of the two future companies, thyssenkrupp Industrials and thyssenkrupp Materials. In an effort to "become leaner, faster and better," the companies will have simplified leadership structures. At each, the number of board directorates will be reduced to three, and central functions will be combined. From 17 corporate and service functions today, there will be 14 at thyssenkrupp Industrials and 10 at thyssenkrupp Materials. Additionally, the current matrix structure will be dissolved in favor of no regional structure besides the business areas at headquarters level. The tasks in the regions will be performed by the operating units or central functions, and the shared service units will be allocated according to business requirements. The final vote on the separation plans is to take place at the thyssenkrupp Annual General Meeting in January 2020. Both companies are to commence operations at the start of the next fiscal year on October 1, 2019.