Thyssenkrupp names Johannes Dietsch as its CFO

Johannes Dietsch played a pivotal role in Bayer, as its CFO, in arranging the funding for the $63 billion takeover of Monsanto.

On Friday, Germany’s Thyssenkrupp stated, it would propose to name former Bayer finance chief Johannes Dietsch as its chief financial officer CFO.

Thyssenkrupp is in the process of undergoing one of its largest ever restructuring: it is spinning-off its capital goods businesses.

In the summer of 2018, the group’s chairman and CEO resigned.EO and chairman to resign.

From October 2014 to May 2018, Dietsch was Bayer’s CFO. He was instrumental in arranging funding for the $63 billion all-cash takeover of U.S. seeds maker Monsanto, including bond issues and a capital increase.

He also oversaw the separate listing and gradual sale of Bayer’s chemicals and plastics division Covestro which is now worth $9.1 billion (8 billion euros).

“He brings exactly the skills and experience needed to manage the separation process at Thyssenkrupp together with the current members of the Board,” said Bernhard Pellens, chairman of Thyssenkrupp’s Supervisory Board, in a statement.

Dietsch, 56, will start his new job in February 2019, pending approval from the supervisory board.

With Dietsch’s addition to Thyssenkrupp’s management board, the size is now back to four. Guido Kerkhoff, who was appointed Thyssenkrupp’s permanent CEO in September, previously held the position of finance chief.

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