UPDATE 1-Oerlikon CEO quits, replaced by M&A expert

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By Katie Reid

ZURICH, May 7 (Reuters) - Swiss technology group Oerlikon (OERL.VX) said on Monday Chief Executive Thomas Limberger resigned, ending weeks of speculation that he would shortly leave the company amid tension with the group's chairman.

Oerlikon said Limberger would be replaced by Chief Operational Officer Uwe Krueger, who joined Oerlikon in March from German-based construction group Hochtief (HOTG.DE), where he was responsible for mergers and acquisitions.

Limberger's departure clears one possible hurdle to a merger between Oerlikon and technology group Sulzer (SUN.S), which is one scenario widely speculated by market participants.

The two companies are controlled by largely the same investment groups: Renova, owned by Russian billionaire Viktor Vekselberg, and Victory, controlled by Austrian Georg Stumpf. Stumpf also holds the title of chairman of the board at Oerlikon.

Limberger downplayed chances in April that Oerlikon could forge ties to Sulzer through their common shareholders. Renova and Victory have also downplayed a merger scenario.

"I want to stay at Oerlikon for as long as I can ... I have no plans to go anywhere instead of doing what I am paid for here," he said in a recent interview with Reuters.

Oerlikon declined to comment on why Limberger, who had been at the firm for three years, was leaving or on what he would do next, saying that he would "maintain his connection with the company in a consulting capacity."

"This was his own decision, taken freely and in agreement with the board of directors," the group said in a statement.