Maarten van Veen, the clarinet-playing savior of Hoogovens, dies at 90

Maarten van Veen, the former chairman of steel producer Hoogovens, has died at the age of 90. Van Veen, often labeled the "savior of Hoogovens," downplayed the title himself, stating he primarily built upon his predecessors' work. However, he was the leader who broke a taboo at the IJmuiden-based company, established in 1918, by implementing forced layoffs during a restructuring.

Upon taking over as CEO in 1993, Van Veen decided to cut 2,300 jobs. While many positions were eliminated through early retirement packages, 400 employees faced forced dismissals. This move sent shockwaves through the company, historically known for its social commitment, which not only paid its steelworkers well but also provided housing and supported a vibrant community life.

When Van Veen assumed leadership, Hoogovens had been struggling for years. A previous merger with German steel giant Hoesch had failed and was dissolved in 1982, leaving Hoogovens financially weakened. The company faced difficulties recovering amidst a European steel crisis, with several reorganization rounds already completed. Despite these challenges, Hoogovens had invested significantly in modernizing its blast furnaces, steel plant, and hot strip mill.

By the time Van Veen retired in 1998, Hoogovens reported a profit of 500 million guilders. However, the workforce had dwindled significantly from over 18,000 employees in 1982 to just over 8,000. In 1992, the year before Van Veen became CEO, Hoogovens suffered a record loss of 600 million guilders and relied heavily on bank support. Van Veen, remembered as an amiable man, steered the company towards profitability before its eventual merger with British Steel to form Corus, later acquired by Tata Steel.

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It was exaggerated.