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May 28, 2019, 12:50 a.m. EDT

Thyssenkrupp's steel boss in exit talks

By Cristina Roca

Thyssenkrupp AG (TKA.XE) said Monday that talks are being held to end the contract of Andreas J. Goss, who heads its steel division.

The German company said that, following its failed plan to merge its steel business with that of Tata Steel Ltd. (500470.BY), "the task now is to make Thyssenkrupp Steel Europe fit for the future."

"Talks are currently underway with Mr. Goss to terminate his contract. These talks are not over yet. Results are subject to the approval of the responsible committees," Thyssenkrupp said.

Thyssenkrupp, which makes steel, elevators and auto components, said earlier this month that it expected the European Commission to block its proposed merger with Tata Steel, and dropped plans to split itself into two separate companies. Its new plan involves spinning off and listing its elevator unit, it said earlier this month.

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