- The steel manager position is eyed for replacement by Thyssenkrupp's chief executive.
Thyssenkrupp CEO Miguel López is intending to swap out numerous board members from the steel division, as per reports from "Handelsblatt." Three out of the five board members have reportedly been presented with termination agreement proposals. Bernhard Osburg, the steel division CEO, is among these three. The alterations are due to López's discontent with the steel business restructuring strategies, according to insiders.
The company refrained from commenting on the report. A company spokesperson stated, "We do not usually comment on personnel rumors," in response to dpa's request for a statement.
Thyssenkrupp Steel's Supervisory Board Meet
Thyssenkrupp Steel Europe's supervisory board will convene for a meeting on Thursday in Duisburg at 3 pm. The board chair Sigmar Gabriel and Detlef Wetzel, vice-chair of the committee, have arranged a press conference for 5 pm.
Thyssenkrupp employs 27,000 individuals in the steel division, with approximately 13,000 working in Duisburg. The company also employs around 70,000 people in other corporate sectors.
The division, impacted by the economic slump and cheaper imports, is set for restructuring. Plans for a spin-off include a decrease in Duisburg's steel production capacity, leading to job losses. The dispute revolves around the financial backing provided by the parent company during the spin-off. The present steel board's restructuring plans are not deemed sufficient by the parent company.
Only on Wednesday, the shareholder representatives in the AG's supervisory board voiced support for López's restructuring approach. They urged the employee side to avoid unsettling employees by suggesting widespread individual job cuts. In recent months, works councils and IG Metall have protested against extensive job cuts at multiple events.
Handelsblatt Report
During the Thyssenkrupp Steel Supervisory Board meeting on Thursday, the topic of replacing certain board members from the metal division could be discussed, given the Handelsblatt report suggesting numerous swaps. The report also mentioned the possibility of other board members, including those from the metal division, receiving termination agreement proposals.
