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Days after sealing Tata Steel JV deal, ThyssenKrupp CEO offers resignation

Shareholder criticism mounted on Hiesinger following deal agreed over the weekend, with some criticising that terms had not been favourable enough and that he could have sought a better deal

Reuters  |  Berlin/Frankfurt/Duesseldorf 

ThyssenKrupp boss Heinrich Hiesinger has asked to step down less than a week after sealing a landmark joint venture deal with India's Tata Steel, bowing to growing investor pressure for a more radical restructuring of the group. In the job since 2011, Hiesinger, 58, presided over the conglomerate's protracted exit from its volatile steel business, whose roots go back more than 200 years and formed the company's backbone for many generations. Having joined ThyssenKrupp from engineering conglomerate Siemens, Hiesinger simplified the steel-to-submarines group's ...

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First Published: Fri, July 06 2018. 07:28 IST