German industrial engineering and steel production multinational conglomerate Thyssenkrupp’s CEO Martina Merz, has decided to quit. Merz took over as CEO in 2019.

Soon after her decision, the Personnel Committee proposes to the Supervisory Board to appoint Miguel Ángel López Borrego, as a member of the Executive Board of Thyssenkrupp AG with effect from June 1 and appoint him as Chief Executive Officer.

Currently, Miguel is CEO of NORMA Group SE. Earlier, he served as CEO of Siemens Spain and Chairman of the Board of Siemens Gamesa Renewables, S.A.

“With Miguel Ángel López Borrego, we have been able to win an internationally experienced manager with broad industry experience in the areas of digitalisation and Industry 4.0 as well as a very experienced finance and M&A expert for the future management of ThyssenKrupp. With him at the top, we will continue on the path of transformation on the basis of the strategic lines that have been laid down. This is challenging, but necessary. Because the transformation of thyssenkrupp is not yet complete,” said Siegfried Russwurm, Chairman of the Supervisory Board of Thyssenkrupp AG.