The Chairman of the Supervisory Board of Thyssenkrupp, Siegfried Russwurm, has strongly criticized the management of the company's steel division for failing to address structural and financial challenges. This follows the unexpected resignation of three board members of the steel division, including the head of steel, Bernhard Osburg.

Russwurm stated that despite "commendable efforts" by Thyssenkrupp Steel's management over the years, they have not been able to develop sustainable solutions for the significant problems in the steel business. The deficit steel division is facing a necessary restructuring, but agreed programs have so far not shown the hoped-for effects.

The resignation of the board members occurred in the course of an escalating dispute over the financial resources of the steel subsidiary on its path to independence. Four members of the Steel Supervisory Board, including the previous chairman Sigmar Gabriel, also resigned their mandates. Gabriel had sharply criticized Thyssenkrupp CEO Miguel López, accusing him of conducting a defamation campaign against the steel management.

Russwurm emphasized that Thyssenkrupp Steel continues to consume liquidity without regaining control over the financial situation. This not only burdens the steel division itself but also all other businesses of the group as well as the owners. The board members left the company by "mutual agreement.

With these clear words, a profound reorientation in the leadership of Thyssenkrupp's steel division is indicated, which continues to face significant structural challenges.