Drumbeat at Thyssenkrupp: CEO Martina Merz has asked the Supervisory Board for talks on an amicable termination of her mandate, the listed company surprisingly announced on Monday. The Personnel Committee of the supervisory body intends to comply with the request and hold discussions with her.
In addition, the Personnel Committee already has a successor for the top management of the steel group in mind: The current interim head of the automotive supplier Norma Group, Miguel Ángel López Borrego, is to be proposed to the Supervisory Board as the new CEO on June 1. Borrego also previously worked for the Siemens Group.
According to the company's announcement, the share price temporarily fell by almost 10 percent. Merz has been CEO of Thyssenkrupp since October 2019. Just last year in May, her contract was extended until 2028.
Before joining the Executive Board, Merz was Chairman of the Supervisory Board of Thyssenkrupp in 2019. Prior to that, she worked as an independent management consultant with several supervisory board mandates, including at Lufthansa, and before that she held management positions in the Bosch Group for a longer period of time.