Berlin, Jul 17 (AFP) 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. (AFP) CPS

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)