Heinrich Hiesinger (born 25 May 1960) is a German engineer and manager who was the CEO of ThyssenKrupp from 2011 until 2018.
Early life and education The eldest of six children raised on a farm,Chris Bryant (December 14, 2012), Turnround test for ThyssenKrupp chief Financial Times. Hiesinger was born in Bopfingen in southern Germany and grew up on a farm. He obtained a PhD in Electrical engineering at the Technical University of Munich, Germany.
Career Siemens From 1992 to 2010, Hiesinger held several positions within the Siemens Group. From 1999 until 2000, he led Siemens Metering AG, based in Switzerland. When a corruption scandal led to a major management reshuffle in 2007,Marilyn Gerlach (May 4, 2010), ThyssenKrupp picks outsider as new CEO Reuters. he became a member of the board of Siemens, under the leadership of CEO Peter Löscher. In 2008 he was additionally appointed CEO of the Industry Sector of Siemens and head of the central department Corporate Information Technology. In that capacity, during that time, he cut 2,000 jobs at the company's Industry Sector.Marilyn Gerlach (May 4, 2010), ThyssenKrupp picks outsider as new CEO Reuters.
ThyssenKrupp On 1 October 2010, Hiesinger left Siemens to join the board of ThyssenKrupp. On 21 January 2011, Hiesinger succeeded Ekkehard Schulz as CEO; he was the first ThyssenKrupp CEO to be hired from outside the steel industry when Chairman Gerhard Cromme brought him over from Siemens. In that capacity, he was responsible for the Asia/Pacific and China regions.
Upon becoming CEO, Hiesinger tried to shift the focus of ThyssenKrupp from the volatile steel sector to higher-margin products and services such as elevators, industrial plants and high-performance car parts.Maria Sheahan (January 17, 2014), ThyssenKrupp CEO tells investors needs time for overhaul Reuters. Within the first three years, he replaced about 70 percent of the 40 top managers,Chris Bryant (September 25, 2013), Hiesinger faces challenge to recast Germany's ThyssenKrupp Financial Times. cut annual costs by 600 million eurosStanley Reed (January 6, 2014), A Delicate Balance for the Turnaround Chief of ThyssenKrupp New York Times. and sold off ThyssenKrupp units – including civil shipbuilding and various steel unitsStanley Reed (November 19, 2014), ThyssenKrupp, an Old European Conglomerate, Tries to Learn a New Business Style New York Times. – with at least 10 billion euros ($13.6 billion) of annual sales, a quarter of group turnover.Maria Sheahan and Tom Käckenhoff (January 12, 2014), ThyssenKrupp chief tests shareholder patience on steelmaker overhaul Reuters. Under his leadership, the company reported its first net profit in four years in 2014.Georgina Prodhan and Tom Käckenhoff (November 20, 2014), ThyssenKrupp restarts dividend as turnaround takes hold Reuters. That year, Hiesinger's contract was renewed ahead of time until 2020, a sign of approval from the company's two biggest shareholders, the Alfried Krupp von Bohlen und Halbach Foundation and activist investor Cevian.Georgina Prodhan and Tom Käckenhoff (November 20, 2014), ThyssenKrupp restarts dividend as turnaround takes hold Reuters.
In his capacity at ThyssenKrupp, Hiesinger was part of Chancellor Angela Merkel's delegation on state visits to China in 2012,Henning Krumrey (August 29, 2012), Kanzlerin reist mit zwei Airbussen nach China Wirtschaftswoche. 2014Ralf Schuler and Henrik Jeimke-Karge (March 7, 2014), China-Reise: Mit diesen Managern reist Merkel ins Reich der Mitte BILD. and 2016.Stephan Scheuer and Thomas Sigmund (June 13, 2016), Merkel in China: In heikler Mission Handelsblatt. During the Hannover Messe in April 2016, he was among the 15 German CEOs who were invited to a private dinner with President Barack Obama.Hans von der Burchard (April 25, 2016), POLITICO Pro's Morning Trade: Breaking bread with the president Politico Europe. At the 2018 World Economic Forum in Davos, he attended a dinner of President Donald Trump with a group of European CEOs.Jennifer Jacobs (January 25, 2018), Here's Who's Having Dinner With Trump at Davos Bloomberg News.
By 2017, ThyssenKrupp's shares lost 18 percent during Hiesinger's time in office, underperforming an 87-percent rise in the DAX, but performed more strongly than ArcelorMittal, the world's biggest steelmaker.Christoph Steitz and Tom Käckenhoff (January 17, 2018), Investors intensify pressure on Thyssenkrupp boss before AGM Reuters.
On 7 July 2018, the supervisory board agreed to Hiesinger's request to terminate his contract.Maria Sheahan (July 6, 2018), Thyssenkrupp accepts CEO Hiesinger's resignation Reuters.
Other activities Corporate boards Evolutionizer, Member of the Advisory Council (since 2020)Advisory Council Evolutionizer.Tanja Kewes (June 1, 2020), Ex-BMW-Chef Krüger arbeitet nun für kanadischen Pensionsfonds Handelsblatt. ZF Friedrichshafen, Member of the Supervisory Board (2020–2025)Dr. Heinrich Hiesinger to join ZF Supervisory Board ZF Friedrichshafen, press release of December 1, 2020.Wechsel im ZF-Aufsichtsrat – Heinrich Hiesinger folgt auf Ernst Baumann Südkurier, December 1, 2020.Michael Herold (19 March 2025), Rolf Breidenbach übernimmt: ZF beruft neuen Aufsichtsratsvorsitzenden Manager Magazin. Deutsche Post, Member of the Supervisory Board (2019–2024)Heinrich Hiesinger: Ex-Thyssen-Chef soll in Aufsichtsrat der Deutschen Post Handelsblatt, April 15, 2019.Franziska Martin (2 May 2024), Post-Konzern DHL holt Promis in den Aufsichtsrat Manager Magazin. Fresenius Management, Member of the Supervisory Board (since 2019)Supervisory Board Fresenius. BMW, Member of the Supervisory Board (since 2017) ThyssenKrupp Elevator AG, Chairman of the Supervisory Board (2011-2018) ThyssenKrupp Steel Europe AG, Chairman of the Supervisory Board (2011-2018)
Non-profit organizations Baden-Badener Unternehmer-Gespräche (BBUG), Member of the Board of TrusteesBoard of Trustees Baden-Badener Unternehmer-Gespräche (BBUG). European Round Table of Industrialists (ERT), MemberMembers European Round Table of Industrialists. European School of Management and Technology (ESMT), Member of the Board of TrusteesBoard of Trustees European School of Management and Technology (ESMT). Federation of German Industries (BDI), Vice President (since 2017)Presidential Board Federation of German Industries (BDI). Stifterverband für die Deutsche Wissenschaft, Member of the BoardBoard Stifterverband für die Deutsche Wissenschaft.
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