Thyssenkrupp's steel division leadership and top management step down.
Gabriel pointed the finger at López, alleging he coerced the Thyssenkrupp Steel board into resigning through his actions. This was surprising, given that the Thyssenkrupp Steel Europe AG board had been vigorously defending the steel company's interests and resisting perceived external influences on their operations. Therefore, Gabriel could comprehend why the division's CEO, Bernard Osburg, along with board members Markus Grolms and Heike Denecke-Arnold, chose to step down.
Gabriel also expressed dissatisfaction with Siegfried Russwurm, the Thyssenkrupp group's supervisory board chairman. He no longer felt the core and supervisory boards of Thyssenkrupp AG were dedicated to the initial plan of spinning off a significant portion of the steel division while maintaining its key operations. As a result, Gabriel, along with his deputy Detlef Wetzel and other board members Wilfried Schäffer and Elke Eller, decided to leave the steel division's supervisory board.
Thyssenkrupp is committed to severing ties with its steel subsidiary. It has already transferred 20% of its ownership to Daniel Kretinsky's Czech firm, EPCG. The company intends to transfer another 30% to EPCG. However, there's significant debate surrounding the division's future funding.
Given the ongoing debate about the division's future funding, Gabriel and other departing board members believed that other stakeholders should also consider their perspectives. Despite the Thyssenkrupp group's intentions to transfer more ownership to EPCG, some members questioned whether other strategic options existed for the steel division.
