LONDON Gerhard Cromme, supervisory board chairman of German steelmaker ThyssenKrupp AG, will step down at the end of the month.
Crommes departure follows recent allegations of ThyssenKrupp involvement in anti-competitive agreements related to Germanys domestic automotive industry. The cartel allegations came amid a number of issues at the steelmaker, including faulty data relating to its Steel Americas project, an alleged price-fixing rail cartel and company officials reportedly taking luxury trips.
"Over the past 200 years, the company has successfully overcome several critical situations and I am convinced it will be the same this time," Cromme said. "I will remain strongly attached to the company and its employees."
Cromme, who was heckled at the companys annual general meeting in January when he announced that he would stay in his position, also will step down as vice chairman of the board of trustees and as a member of a foundation related to the company.
A version of this article was first published by AMM sister publication Steel First.