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home / news releases / TKAMY - Thyssenkrupp CEO Merz seeking to step down; shares plunge

TKAMY - Thyssenkrupp CEO Merz seeking to step down; shares plunge

ThyssenKrupp AG ADR

2023-04-24 09:43:41 ET

ThyssenKrupp ( OTCPK:TYEKF ) ( OTCPK:TKAMY ) tanks more than 10% in Frankfurt after the German company said Martina Merz had requested talks to end her mandate as chief executive , without giving a reason for the move.

The company's supervisory board said it recommended Norma Group ( OTC:NOEJF ) CEO Miguel Angel Lopez Borrego as her successor.

Merz has been facing increasing pressure from shareholders over a turnaround of the company that was viewed as too slow and not far-reaching enough.

In February, ThyssenKrupp ( OTCPK:TYEKF ) ( OTCPK:TKAMY ) reported Q1 GAAP earnings of €0.12/share on revenues of €9.01B .

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Thyssenkrupp CEO Merz seeking to step down; shares plunge
Stock Information
Company Name: ThyssenKrupp AG ADR
Stock Symbol: TKAMY
Market: OTC
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