Oliver Burkhard, the current Chief Human Resources Officer of thyssenkrupp AG, will relinquish his duties at the company’s executive board starting January 31, 2025. After over a decade of significant contributions to thyssenkrupp AG, Burkhard will dedicate his full attention to his role as Chief Executive Officer of thyssenkrupp Marine Systems, a crucial subsidiary within the company. This decision comes as part of thyssenkrupp’s broader strategy to spin off its Marine Systems division and prepare for its potential listing on the stock exchange.
The announcement of Burkhard's move comes at a critical time for the company, as the security policy environment worldwide has led to an increased demand for naval shipbuilding. As CEO of Marine Systems, Burkhard has already been overseeing the company's naval projects, which have witnessed a marked growth trajectory in recent years. With naval orders filling up the company’s books, the demand for high-tech, reliable military vessels is at an all-time high. The increased focus on military readiness, particularly in Europe, has made the naval segment a strategic area for future growth.
Thyssenkrupp’s decision to spin off its Marine Systems division is a significant one for the company. Prof. Dr. Siegfried Russwurm, Chairman of the Supervisory Board, emphasized Burkhard's pivotal role in the transformation of thyssenkrupp, noting that his work has not only been integral to the group’s growth but has also ensured the economic stability of the naval shipbuilding business. This spin-off is expected to provide Marine Systems with greater autonomy and flexibility, allowing it to focus more effectively on naval projects while benefiting from the increased demand for defense technology.
The upcoming transition will require substantial preparatory work, especially in the face of a highly competitive naval market. Burkhard has already indicated that Marine Systems' order books are full, with expectations for continued high levels of new orders. Given this, the company will need to ensure that the spin-off is not only a financial success but also operationally seamless, ensuring that it remains competitive in a rapidly changing defense market. This strategic shift also aligns with thyssenkrupp's broader vision to focus on its core competencies in industries such as steel production, automotive technology, and decarbonization technologies.
Miguel López, the CEO of thyssenkrupp AG, expressed support for Burkhard’s decision, emphasizing that his leadership will be crucial in driving the success of the Marine Systems spin-off. López acknowledged Burkhard’s key contributions to the company, particularly in balancing the complex interests of stakeholders and in strengthening the human resources function at thyssenkrupp. While the company will miss his leadership in the human resources division, López believes Burkhard’s decision to focus on Marine Systems will benefit both the company and its stakeholders in the long term.
The transition will also see a reshuffling of responsibilities within the company. Jens Schulte, the Chief Financial Officer of thyssenkrupp AG, will take over responsibility for the Human Resources department on an interim basis. This change is part of an ongoing effort to ensure that the company’s operations continue to run smoothly as it navigates this pivotal moment in its corporate restructuring.
Thyssenkrupp AG, an international industrial and technology conglomerate, operates across several sectors, including Automotive Technology, Decarbon Technologies, Materials Services, Steel Europe, and Marine Systems. In the fiscal year 2023/2024, the company generated €35 billion in sales and employed approximately 98,000 people across 47 countries. The company’s focus on climate protection, energy transition, and mobility technology reflects its long-term vision for a sustainable future, with significant investments in research and development.
Burkhard’s decision to leave the Executive Board and focus on the naval division signals a shift towards specialization within the company’s key business areas. The planned spin-off of thyssenkrupp Marine Systems will allow the company to sharpen its focus on growing the naval segment independently while continuing to drive advancements in other sectors. As thyssenkrupp moves forward with these changes, the leadership and strategic decisions made during this transitional period will play a critical role in shaping the company’s future trajectory in an increasingly volatile global marketplace.
This restructuring also demonstrates thyssenkrupp’s broader strategy to adapt to shifting market dynamics, particularly the heightened emphasis on defense and security sectors worldwide. With naval capabilities becoming more vital to national security, thyssenkrupp’s emphasis on strengthening its Marine Systems business is likely to pay dividends in the form of increased orders and strategic partnerships in the coming years.
