DUISBURG (dpa-AFX) - Thyssenkrupp AG (TYEKF.PK) said Tuesday that it will start negotiations soon to end the contract of current Chief Executive Officer Guido Kerkhoff and propose current Supervisory Board Chairwoman Martina Merz as interim Chief Executive Officer for no longer than a year.
The Personnel Committee of the Supervisory Board of thyssenkrupp AG recommends to the Supervisory Board to start negotiations to end the Board mandate of Guido Kerkhoff shortly','the company said in a statement.
Board member Siegfried Russwurm would take over the chairman duties on an interim basis.
Kerkhoff, who joined Thyssenkrupp as finance chief in 2011, took over as Chief Executive Officer in July 2018. He was originally handed a five-year mandate to restructure the steel-to-submarines group but has come under increasing pressure after attempts to merge with Tata were blocked by Brussels and a plan to split Thyssenkrupp into two was shelved.
In addition, the company said it would recommend to appoint Klaus Keysberg as an additional Member of the Executive Board of the company responsible for the Business Areas Materials Services and Steel Europe, effective October 1st 2019.
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