Thyssenkrupp's Supervisory Board Plans to Dismiss CEO
25 September 2019 - 4:45PM
Dow Jones News
By Kim Richters
Thyssenkrupp AG's (TKA.XE) supervisory board plans to dismiss
the company's Chief Executive Guido Kerkhoff, the steelmaker said
late Tuesday.
The personnel committee of the board said that it is proposing
to start talks soon about ending Mr. Kerkhoff's appointment and
that Martina Merz, currently chairwoman of the supervisory board,
could replace him as an interim CEO for up to 12 months.
Mr. Kerkhoff has been serving as CEO since July last year and is
appointed until the end of September 2023. He originally took over
as an interim CEO from Heinrich Hiesinger.
The German industrial conglomerate's overhaul, announced earlier
this year will go ahead, the supervisory board said, which includes
a potential partial or whole sale or listing of the company's
elevator business.
Siegfried Russwurm has been proposed to replace Ms. Merz as head
of the supervisory board for the time of her CEO appointment.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
September 25, 2019 02:30 ET (06:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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