Top shareholder Cevian announces Merz as new Thyssenkrupp CEO
The Swedish fund Cevian Capital, Thyssenkrupp’s second-biggest shareholder, recently said it fully supported the appointment of Martina Merz as new Chief Executive Officer of the German industrial conglomerate.
The founding partner Lars Foerberg Cevian in a statement said, “We expect that the new leadership will speed up the transformation process that Thyssenkrupp so urgently needs, and improve the quality of implementation,”
Thyssenkrupp said recently it will start talks soon to end the contract of current CEO Guido Kerkhoff, whose brief tenure at the submarines-to-car-parts group included four profit warnings and two failed restructuring efforts.
Source: Reuters
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