Supervisory Board of thyssenkrupp AG approves appointment of new CEO

Miguel Ángel López Borrego, an internationally experienced executive, will take over as the new CEO of thyssenkrupp AG on June 1, 2023. His appointment follows a unanimous decision by the company's Supervisory Board, based on a recommendation by the Personnel Committee.

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Miguel Ángel López Borrego will become CEO of thyssenkrupp AG on June 1, 2023. He has a three-year employment contract that runs until May 31, 2026. This decision was taken unanimously by the Supervisory Board of thyssenkrupp AG at its meeting.

Mr. López replaces Ms. Merz

This appointment is based on a recommendation made by the Personnel Committee. Martina Merz, predecessor of Miguel Ángel López Borrego, asked the Personnel Committee of the Supervisory Board of thyssenkrupp AG at the end of April to terminate her employment contract as CEO as soon as possible. Ms. Merz and the Supervisory Board then agreed to dissolve the contract by mutual consent on May 31, 2023.

Professor Siegfried Russwurm, Chairman of the Supervisory Board of thyssenkrupp AG, said: “The Supervisory Board would like to express its sincere thanks to Martina Merz for her outstanding commitment to thyssenkrupp during extremely difficult global economic times, which posed great challenges for our country and, in particular, our company. She structured the necessary reorganization of thyssenkrupp with extreme care and strategic prudence, initiated it and then took it forward. The entire Supervisory Board wishes Martina Merz all the best for the future in every way. With Miguel Ángel López Borrego, we have attracted an internationally experienced manager with extensive expertise in the industrial and financial sector to thyssenkrupp. His experience and knowledge are exactly what the company needs right now to meet the challenges it faces. Under his leadership, we will be able to systematically advance the change process we have already initiated. We, the members of the Supervisory Board, look forward to working with Mr. Lopez.”

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