Thyssenkrupp accepts CEO Heinrich Hiesinger's resignation

KOLKATA: Thyssenkrupp AG’s Supervisory Board, which met of Friday, has approved the decision of its CEO Heinrich Hiesinger to step down as part of a mutual agreement between the two. The move comes close on heels of Thyssenkrupp and Tata Steel’s decision to merge their steel businesses in Europe.

“Thyssenkrupp Supervisory Board has asked the Board, Guido Kerkhoff, Oliver Burkhard and Donatus Kaufmann to lead without a Chief Executive Officer for the time being,” an official statement said. “The succession for Dr. Heinrich Hiesinger as Chief Executive Officer will be conducted in a structured process,” the statement added.

Commenting on the development, Ulrich Lehner, Chairman of Thyssenkrupp Supervisory Board said: “In this tough situation for the company it is now initially about staying on course. The Board has a strategy to further develop the group, which is agreed with the Supervisory Board. This includes the realization of the steel joint venture. For this we reached an important milestone with the signing. For all other Business Areas there are clear, externally communicated targets, which the company will continue working towards.”


The statement further added: “The Supervisory Board would like to thank Heinrich Hiesinger for everything he achieved in the past years for thyssenkrupp. In the last seven years, he kept the company from its demise and changed it sustainably. During his time, he created the basis for thyssenkrupp to exist as a strong industrial company in accordance with the principles of the foundation. His decision at his point in time deserves our highest esteem and respect.”