February 10, 2020 / 2:55 AM / 17 days ago

Head of Thyssenkrupp's steel unit to leave - Handelsblatt

Thyssenkrupp's logo is seen in the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle

FRANKFURT (Reuters) - The chief executive of Thyssenkrupp’s (TKAG.DE) steel division will leave at the end of the month, German newspaper Handelsblatt reported, citing sources close to the group’s supervisory board.

Premal Desai has been leading the division since June 2019. He is likely to be succeeded by Bernhard Osburg, currently the unit’s chief commercial officer, Handelsblatt said.

Thyssenkrupp declined to comment.

The company, whose attempt to merge its steel division with Tata Steel’s (TISC.NS) European unit was thwarted by regulators last year, has outlined plans to transform the business into its biggest profit engine.

Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Pravin Char

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