Martina Merz to step down as Thyssenkrupp CEO, shares fall 9.2%

Thyssenkrupp CEO Martina Merz is seeking to step down, the German industrial group said on Monday. Following the announcement, shares of the firm fell by 9.2% at 12:50 GMT. Thyssenkrupp's supervisory board has recommended Miguel Angel Lopez Borrego, who currently serves as automotive and industrial supplier Norma Group's CEO and Chairman of Siemens Gamesa, to succeed Merz from June 1.