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Karl Koehler News
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Koehler, who was appointed as CEO and Managing Director of Tata Steel Europe in October 1, 2010, will also step down as the member of the Tata Steel's Board of Directors.
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Forced to go for more restructuring of its UK business due to a "challenging marketplace", Tata Steel will sell its Long Products Europe business by the end of the current financial year.
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"The scheme is faced with a projected shortfall of up to 2 billion pounds, which both the company and the unions agree makes change necessary. In a robust and constructive dialogue Koehler answered all the questions MPs asked him," it said.
The proposed changes are aimed at enabling the UK Strip Products business to compete in Europe's lower market demand era by reducing costs.
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