Thyssenkrupp's total return has been minus 40% during his time at the helm, compared with 5% for the STOXX Europe 600 Industrials index. Thyssenkrupp CEO exit will help its elevator pitch: gfhay ReutersFlasseur
Thyssenkrupp said on Sept. 24 it would start talks to end the contract of its current chief executive, Guido Kerkhoff.
"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 German industrial conglomerate said in a statement. Thyssenkrupp did not elaborate on the decision, but said it would propose current Supervisory Board Chairwoman Martina Merz, who has been in the job since February, as interim CEO for no longer than a year.
Fellow board member and former Siegfried Russwurm would take over Merz’s duties as chairman on an interim basis, Thyssenkrupp said.
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