TKAMY Thyssenkrupp AG (PK)

   By Kim Richters 
 

Thyssenkrupp AG's (TKA.XE) supervisory board plans to dismiss the company's Chief Executive Guido Kerkhoff, the steelmaker said late Tuesday.

The personnel committee of the board said that it is proposing to start talks soon about ending Mr. Kerkhoff's appointment and that Martina Merz, currently chairwoman of the supervisory board, could replace him as an interim CEO for up to 12 months.

Mr. Kerkhoff has been serving as CEO since July last year and is appointed until the end of September 2023. He originally took over as an interim CEO from Heinrich Hiesinger.

The German industrial conglomerate's overhaul, announced earlier this year will go ahead, the supervisory board said, which includes a potential partial or whole sale or listing of the company's elevator business.

Siegfried Russwurm has been proposed to replace Ms. Merz as head of the supervisory board for the time of her CEO appointment.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

September 25, 2019 02:30 ET (06:30 GMT)

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