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Thyssenkrupp Advisory Board Chief Quits After Tata Deal

Lehner told German press last week that activist shareholders had inflicted "psychological terrorism" on Hiesinger

1460003750_KpTswf_Tata_Steel_Reu.jpg

German industrial giant Thyssenkrupp has announced the resignation of the chairman of its advisory board after a dispute with shareholders.

Ulrich Lehner, 72, had publicly supported Heinrich Hiesinger, who resigned unexpectedly earlier this month following a merger of Thyssenkrupp's steelmaking business with India's Tata, creating Europe's second biggest steelmaker.

Thyssenkrupp has been under pressure from activist investors such as investment firm Cevian, an 18 per cent shareholder, and business daily Handelsblatt reported Lehner was one of two advisory board members to have voted against the Tata merger.

Lehner told German press last week that activist shareholders had inflicted "psychological terrorism" on Hiesinger.


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