Commodities

Thyssenkrupp's Merz drops SAF Holland chairwoman role

Credit: REUTERS/WOLFGANG RATTAY

Thyssenkrupp Supervisory Board Chairwoman Martina Merz has resigned as head of the steering committee of automotive supplier SAF Holland, ahead of efforts to make her chief executive of the stricken steel-to-elevators conglomerate.

By dropping her mandate as chairwoman of SAF Holland, Merz is preempting criticism over the amount of board seats she holds at other listed firms as CEO-designate of Thyssenkrupp, a task seen as extremely challenging and time-consuming.

She will remain a member of SAF Holland's board of directors, SAF Holland said, adding that Vice Chairman Martin Kleinschmitt will take over her duties.

Apart from Thyssenkrupp and SAF Holland, Merz, 56, also sits on the steering committees of German airline Lufthansa LHAG.DE, Swedish truck maker Volvo VOLVb.ST and French roofing business Imery SA IMTP.PA.

(Reporting by Christoph Steitz, editing by Riham Alkousaa)

((christoph.steitz@thomsonreuters.com; +49 69 7565 1269; Reuters Messaging: christoph.steitz.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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