Thyssenkrupp CEO Guido Kerkhoff leaves

  • Push-out Score determined
  • After about a year in the position
  • Praise, thanks and good wishes for Kerkhoff
  • Martina Merz taking over
  • Kerkhoff said 96 words

(exechange) — Essen, Germany, September 30, 2019 — Guido Kerkhoff, chief executive of Thyssenkrupp, leaves — “by mutual agreement.” As announced by Thyssenkrupp AG in a news release on Monday, September 30, 2019, Guido Kerkhoff leaves his post as chief executive officer at the German multinational conglomerate with focus on industrial engineering and steel production after about a year in the role, effective immediately.

Guido Kerkhoff’s duties as CEO will be taken over by Martina Merz, most recently Chairwoman of the Supervisory Board of Thyssenkrupp AG.

“Necessary consistency”

A reason for Guido Kerkhoff’s departure from the CEO post was not explicitly provided. Martina Merz said: “In the new Executive Board team we will take the structural decisions now on the agenda with the necessary consistency.”

Precise information regarding Guido Kerkhoff’s future plans was not immediately available.

“Mutual termination”

Thyssenkrupp said: “With Guido Kerkhoff, the current CEO, the Supervisory Board agreed on the mutual termination of his mandate on the Executive Board.”

Share price decline

The announcement follows a decline in Thyssenkrupp AG’s share price of 41% since July 2018.

In the position of CEO since 2018

Guido Kerkhoff became CEO of the Company in July 2018.

Born 1967, Kerkhoff studied business administration at Universität Bielefeld and Universität des Saarlandes.

Guido Kerkhoff began his career in the Group Accounting department of VEW AG from 1995 through 1996.

He then moved to Bertelsmann AG, where he most recently headed up the department responsible for projects and general corporate accounting and controlling issues for over three years.

From April 2002, Guido Kerkhoff held various management positions in Deutsche Telekom’s Finance department and became head of Group Accounting and Controlling in 2006.

Guido Kerkhoff was member of the Board of Management of Deutsche Telekom AG from March 2009 to March 2011, initially with responsibility for Southern and Eastern Europe and – from April 2010 – for Europe.

In April 2011, Guido Kerkhoff was appointed member of the Executive Board and CFO of Thyssenkrupp AG.

From July 13, 2018, on he was Chief Executive Officer.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to Thyssenkrupp and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 40.2019 ($).