Thyssenkrupp Steel CEO Departs Amid Dispute Over Unit's Future [BNN Bloomberg (Canada)]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: BNN Bloomberg
Bernhard Osburg, CEO of Thyssenkrupp Steel Europe AG, will depart the company, as will Sigmar Gabriel, head of the supervisory board. Gabriel said Thursday that the parent company undermined Osburg in a “severe breach of faith.” The moves come after a weeks-long tussle between executives and worker representatives over the steel unit's future after selling a 20% stake in the company to Czech billionaire Daniel Kretinsky. Kretinsky's EP Corporate Group is in talks to acquire a further 30% of the business. ©2024 Bloomberg L.P.
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