By Cristina Roca 
 

Thyssenkrupp AG (TKA.XE) said late Wednesday that Donatus Kaufmann, who is a member of its executive board, has reached an agreement with the supervisory board to step down.

Mr. Kaufmann, who is responsible for legal & compliance, technology, innovation and sustainability, as well as for the North America and Western Europe regions, will leave Thyssenkrupp as of September 30, the German industrial conglomerate said.

Following a failed plan to merge its steel business with that of Tata Steel Ltd. (500470.BY), Thyssenkrupp has launched a restructuring plan.

"With a view to the necessary realignment of the group and the associated streamlining of structures that is now imminent, we as the executive board are setting a good example with my today's move and are sending a clear signal," Mr. Kaufmann said.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

August 08, 2019 01:25 ET (05:25 GMT)

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