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Report: ThyssenKrupp's chairman search stalls as candidates turn down offer

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Report: ThyssenKrupp's chairman search stalls as candidates turn down offer

ThyssenKrupp AG is struggling to find a new chairman after a number of candidates have turned down the job, leaving a leadership void in the German conglomerate, Reuters reported Aug. 31, citing an unnamed source.

The report said former Deutsche Bank Deputy CEO Marcus Schenck, ex-Bayer CEO Marijn Dekkers and Airbus CEO Tom Enders have all turned down the position.

In July, ThyssenKrupp CEO Heinrich Hiesinger and Chairman Ulrich Lehner both handed in their resignations in the wake of pressure from major shareholders to secure a more favorable agreement with Tata Steel Ltd. to form a 50/50 European steel joint venture.

Investor sources previously told the newswire that the conglomerate should conclude its search for a new chairman no later than September to avert a potential leadership crisis.