November 20, 2018 / 9:04 PM / 21 days ago

UPDATE 1-Thyssenkrupp supervisory board fails to appoint Daimler CFO -sources

* Uebber demands higher compensation for board -sources

* Daimler CFO backed by key shareholders -sources

* Martina Merz joins Thyssenkrupp supervisory board (Recasts, adds detail)

ESSEN, Germany, Nov 20 (Reuters) - Thyssenkrupp’s supervisory board on Tuesday failed to agree on recruiting outgoing Daimler finance chief Bodo Uebber, two sources familiar with the matter told Reuters.

Uebber, who has been touted as a candidate to become chairman of the steel-to-submarines conglomerate, was backed by shareholder representatives Cevian and the Alfried Krupp von Bohlen and Halbach Foundation, but his demands on board compensation drew fire from employee representatives, the sources said.

Thyssenkrupp declined comment.

The disagreement comes a day ahead of the group’s annual news conference, at which Chief Executive Guido Kerkhoff will be grilled on a landmark corporate split that has so far failed to revive the group’s share price.

Uebber, a core part of the Daimler management team that nursed Mercedes-Benz back to health after a messy divorce from Chrysler, had been expected to fill one of two vacant seats on Thyssenkrupp’s supervisory board.

One of the two vacancies was filled on Tuesday with the appointment of Martina Merz, chairwoman of automotive supplier SAF Holland.

“With her expertise and experience, Ms. Merz is a competent addition to our supervisory board,” said Thyssenkrupp Chairman Bernhard Pellens, who has to step down in 2020 under German corporate governance rules.

Sources told Reuters this month that Merz, who also sits on Lufthansa’s supervisory board and the board of directors at truck manufacturer Volvo, was among the candidates to join the board. (Reporting by Christoph Steitz and Tom Kaeckenhoff Editing by David Goodman)

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