Martina Merz takes over at struggling thyssenkrupp

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Martina Merz takes over at struggling thyssenkrupp
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Martina Merz is the first woman to lead one of Germany’s big industrial companies

WHEN MARTINA MERZ joined thyssenkrupp’s supervisory board as chairman in January, she was not her new colleagues’ first choice. They had approached Bodo Uebber, a former chief financial officer of Daimler, Tom Enders, ex-boss of Airbus, and Marijn Dekkers, a former chief executive of Bayer. All three turned them down. When Ms Merz said yes, she had no idea that within nine months she would be chief executive of the struggling German industrial conglomerate. She took over on October 1st.

She is taking on one of the hardest jobs in German big business. Thyssenkrupp is a chaotic hotch-potch. Regulators blocked Mr Kerkhoff’s plan to split the company into a unit centred on its lucrative lifts business and another, Thyssen Materials, that would have included its ailing steel business. The watchdogs objected to Mr Kerkhoff’s plan to merge the steel unit with India’s Tata group.

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