The long-established ThyssenKrupp Group is again facing a change in its leadership. The Presidium and the Personnel Committee of the Supervisory Board recommended to the Supervisory Board to begin negotiations with CEO Guido Kerkhoff on a timely termination of his term of office on the Management Board. The company announced surprisingly. Supervisory Board chief Martina Merz should be sent on an interim basis - for a maximum period of twelve months - as chairwoman of the Management Board.
Reasons for the unusual step were initially not mentioned. At last, there were also different strategic ideas about what was said. The supervisory board presidency had desired new executives, it was said.
Kerkhoff has only been at the head of the industrial group since mid-July 2018. He actually had a contract until September 30, 2023. The former CFO should stabilize Thyssenkrupp after the tumultuous departure of former CEO Heinrich Hiesinger again.
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Furthermore, the Presidium of the Supervisory Board recommended to the Supervisory Board that Siegfried Russwurm be appointed interim Chairman of the Supervisory Board by Martina Merz after taking over the chairmanship of the Management Board, as it was said. The Supervisory Board will discuss the recommendations of the Presidium and the Personnel Committee "in a timely manner" in an extraordinary meeting.
Thyssenkrupp has not been one of the 30 most valuable stock exchange companies in Germany for several days. The Essener industrial and steel company had to leave the Dax because of its drastically decreased stock price. The traditional company was replaced in the lead index by the engine manufacturer MTU.