September 24, 2019 / 9:05 PM / a month ago

Thyssenkrupp CEO Kerkhoff to leave, chairwoman Merz to take over

FRANKFURT, Sept 24 (Reuters) - Thyssenkrupp on Tuesday said it would shortly resume talks to end the contract of current Chief Executive Guido Kerkhoff and to name Chairwoman Martina Merz as interim CEO for not more than 12 months.

The company did not give a reason for the decision. Kerkhoff took over in July 2018 following the sudden departure of former CEO Heinrich Hiesinger and Chairman Ulrich Lehner.

Under Kerkhoff’s watch Thyssenkrupp issued four profit warnings and scrapped plans for a spin-off of its capital goods businesses as well as a planned joint venture with India’s Tata Steel. (Reporting by Christoph Steitz Editing by Chris Reese)

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