FRANKFURT, Oct 28, 2025 – Thyssenkrupp’s steel division head Dennis Grimm will leave the unit following a strategic dispute with the parent company’s CEO during ongoing sale talks with India’s Jindal Steel.
The departure signals deepening turmoil at Germany’s largest steelmaker as it struggles to restructure its loss-making steel operations and secure new investment.
- Steel unit chief exits amid CEO conflict over strategy
- Departure comes during Jindal Steel sale negotiations
- Latest in series of senior steel division departures
Strategic Differences Drive Exit
Grimm’s departure stems from fundamental disagreements with Thyssenkrupp CEO Miguel Lpez over the steel unit’s strategic direction, according to German newspaper Bild 1. The timing coincides with advanced negotiations to sell the struggling steel division to India’s Jindal Steel & Power.
Two people familiar with the matter confirmed Grimm’s decision to leave, marking another high-profile exit from the steel unit’s leadership ranks 2. The division has faced persistent losses amid weak demand and high energy costs in Europe’s steel sector.
Leadership Exodus Continues
Grimm’s exit follows a pattern of senior departures from Thyssenkrupp’s steel operations. In August, steel unit CEO Bernhard Osburg and supervisory board head Sigmar Gabriel both resigned amid escalating tensions with the parent company 3.
The steel division, which employs around 27,000 people across Germany, has become a focal point of investor concern. The unit has struggled with overcapacity and mounting losses as European steel demand remains weak.
Sale Talks Progress
Thyssenkrupp has been in advanced discussions with Jindal Steel about selling its steel assets as part of a broader restructuring effort. The German industrial conglomerate is seeking to focus on higher-margin businesses while divesting struggling operations.
Industry analysts view the steel unit sale as critical for Thyssenkrupp’s financial stability. The company has faced pressure from investors to streamline operations and improve profitability across its diverse portfolio.
Market Implications
The leadership changes underscore broader challenges facing European steel producers, who have grappled with rising energy costs and competition from Asian rivals. Thyssenkrupp’s steel restructuring efforts reflect industry-wide pressures to consolidate and reduce capacity.
The departure adds uncertainty to ongoing sale negotiations with Jindal Steel, though sources suggest talks remain on track despite the leadership shake-up 4. Investors are closely watching for updates on the transaction’s progress and potential deal terms.
Not investment advice. For informational purposes only.
References
1“Head of Thyssenkrupp steel to leave amid dispute with group CEO, Bild reports”. MarketScreener. Retrieved Oct 28, 2025.
2“Thyssenkrupp’s steel head Dennis Grimm resigns amid sale talks with Jindal Steel”. Economic Times. Retrieved Oct 28, 2025.
3“Why are senior leaders at Germany’s Thyssenkrupp resigning?”. Euronews. Retrieved Oct 28, 2025.
4“Thyssenkrupp steel boss to leave, sources say”. TradingView. Retrieved Oct 28, 2025.