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Thyssenkrupp shares jump pre-market after CEO offers resignation

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Reuters FRANKFURT
Last Updated : Jul 06 2018 | 11:45 AM IST

FRANKFURT (Reuters) - Shares in Thyssenkrupp jumped in pre-market trade on Friday after Chief Executive Heinrich Hiesinger offered to step down less than a week after sealing a landmark joint venture deal with Tata Steel.

The stock rose 4.4 percent to the top of Germany's blue-chip DAX index in pre-market trade at brokerage Lang & Schwarz.

In the job since 2011, Hiesinger, 58, was bowing to growing investor pressure for a more radical restructuring of the group.

Thyssenkrupp's supervisory board is due to meet later on Friday to take a decision on Hiesinger's request.

(Reporting by Maria Sheahan; Editing by Sunil Nair)

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First Published: Jul 06 2018 | 11:30 AM IST

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