February 11, 2020 / 7:33 PM / 5 days ago

Thyssenkrupp appoints Bernhard Osburg as CEO of Steel Europe unit

FILE PHOTO: Thyssenkrupp's logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle

FRANKFURT (Reuters) - Thyssenkrupp AG (TKAG.DE) said Bernhard Osburg will succeed Premal Desai as Chairman of the Executive Board of Thyssenkrupp Steel Europe AG.

Desai will step down from his position effective February 29, 2020. He departs because of differing views on the direction of the steel business and by mutual agreement, Thyssenkrupp said.

Klaus Keysberg, Member of the Executive Board of Thyssenkrupp AG, responsible for the materials businesses and Chairman of the Supervisory Board of Thyssenkrupp Steel Europe AG, said, “The strategy developed by the Steel Executive Board last December remains the right one. Its implementation – as announced – is our top priority. There has been no change in this regard.”

Reporting by Edward Taylor; Editing by Chizu Nomiyama

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