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FB Roundup: Tata Steel and Maersk Line

Tata Steel announces leadership changes in Europe and Maersk sees rise in Asia trade volume

Tata Steel announces leadership changes in Europe

Karl Koehler, chief executive officer and managing director of Tata Steel Europe, has decided to step down as a director in order to take up a senior position in a large privately-owned industrial company in Germany. 

Koushik Chatterjee, group executive director and member of the boards of Tata Steel and Tata Steel Europe, will take on the role of executive director for Europe in addition to his current responsibilities.

With effect from March 2016, Hans Fischer, currently chief technical officer of Tata Steel Europe, will be appointed chief executive officer and will join the board of Tata Steel Europe.

Chatterjee said: “During his tenure as the chief executive officer and managing director of Tata Steel Europe, Karl has helped the business to become more customer focused, more weighted towards innovative, premium products and significantly more competitive. This has been achieved amidst some of the most challenging market conditions we’ve ever seen."

Tata Group had revenues of $108 billion in 2015 and is in the fifth generation.

Maersk Sees Rise in Asia Trade Volume

Danish shipping company Maersk Line, owned by the McKinney-Moeller family, has reports strong growth in shipping volumes from Asia to the rest of the world in the first weeks of the year. 

The shipping line estimates volumes out of Asia increased 10% to 15% over last year, as retailers rushed to move goods out of China before the nation’s factories temporarily close in celebration of this month’s Lunar New Year break.

Robbert Van Trooijen, CEO of Maersk Line Asia Pacific, said: “There has been more demand certainly this time around than it was last year. That in itself is a positive sign of a good start to the year. What we don’t know yet is what will happen when the factories come back from collective holidays.”

Maersk Line had revenues of $47.6 billion in 2014.

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