Heinrich Hiesinger is trying to retool troubled German steelmaker ThyssenKrupp as a high-tech engineering conglomerate. The CEO has pleaded for shareholders' patience at their annual general meeting today.
The chief executive of German steel giant thyssenkrupp, Heinrich Hiesinger, has asked the board to accept his resignation. The move came shortly after the company confirmed its planned deal with Tata Steel.
When it comes to venerable German business institutions, the industrial giant Thyssenkrupp is something of a poster boy. The Essen-based company is in turmoil though, as disagreements over job losses mount.
After a bad quarterly earnings report, the German industrial giant thyssenkrupp is at a crossroads. Some investors are pushing to smash the old company apart; its recent losses aren't helping to give it direction.
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