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Thyssenkrupp shares rise by 3.9% after CEO offers resignation

In the job since 2011, Hiesinger, 58, was bowing to growing investor pressure for a more radical restructuring of the group

Reuters  |  Frankfurt/Duesseldorf 

Shares in Thyssenkrupp rose on Friday after Chief Executive Heinrich Hiesinger unexpectedly offered to step down, less than a week after sealing a landmark joint venture deal with India's Tata Steel. The stock was up 3.9 percent in early Frankfurt trade at 0624 GMT. In the job since 2011, Hiesinger, 58, was bowing to growing investor pressure for a more radical restructuring of the group. "This decision was not easy for me, quite the contrary," Hiesinger said in a memo to staff seen by Reuters. "I am deliberately taking this step to allow for a ...

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First Published: Fri, July 06 2018. 12:56 IST
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