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Thyssenkrupp, the German giant, suffers a major blow on the Frankfurt Stock Exchange following CEO Martina Merz’s unexpected decision to leave the company. Merz, architect of the largest restructuring of the conglomerate, has asked the Personnel Committee of the Supervisory Board to “discuss in order to find a timely mutual agreement for his resignation from the position of CEO”. In line with that request, the council entered into negotiations to terminate his contract by mutual agreement.
The consequences of this news were immediately felt on the market, with thyssenkrupp losing ground on the Frankfurt Stock Exchange.