Thyssenkrupp CEO Heinrich Hiesinger Submits Resignation Request

   By Sarah Sloat

Thyssenkrupp AG (TKA.XE) Chief Executive Heinrich Hiesinger has requested the board to accept his resignation, the German industrial group said Thursday.

In a short statement, the company said its supervisory board would consider Mr. Hiesinger's resignation on Friday.

The resignation comes less than a week after Thyssenkrupp reached an agreement to merge its European steel operations with with Tata Steel Ltd (500470.BY). The deal, initiated last year, came under pressure from activist shareholders who argued the German company was underselling itself, forcing the companies to discuss new terms.

Mr. Hiesinger has been chief executive of Thyssenkrupp since 2011, when he came in with the pledge of transforming the steel and engineering company into an industrial goods and services group.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

July 05, 2018 12:58 ET (16:58 GMT)

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