According to Bloomberg, thyssenkrupp Steel Europe AG Bernhard Osburg is stepping aside, along with Sigmar Gabriel, head of the supervisory board, and several other supervisory board members and top managers. Gabriel said Thursday that thyssenkrupp Steel's parent company undermined Osburg in a “serious breach of trust.”

"The moves come after a weeks-long tussle between executives and worker representatives over efforts to lower steel-making capacity and restructure the business. The discussions have been part of a long-pursued sale to Czech billionaire Daniel Kretinsky, who has already acquired 20% of the company and is in talks to acquire a further 30% of the business," Bloomberg reported. 

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