Thyssenkrupp Plans to Replace CEO as Pressure Grows
- Kerkhoff has held top job at conglomerate for about a year
- Move adds to turmoil at embattled German engineering company
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Thyssenkrupp AG’s move to fire its chief executive officer at the same time it’s trying to sell off several key businesses shows the company is struggling to stop its downward spiral.
Guido Kerkhoff, who took the top job last year, has been under pressure from the supervisory board for moving too slowly to organize sale processes for units, such as components technology. He’ll be replaced on a interim basis by Martina Merz, according to a statement released late on Tuesday.