K+S CFO Lohr set to replace CEO Steiner - German magazine Bilanz

Wed Mar 30, 2016 6:29am EDT
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FRANKFURT, March 30 (Reuters) - The finance chief of German potash and salt miner K+S, Burkhard Lohr, is set to be promoted to the top job, replacing Chief Executive Officer Norbert Steiner, German magazine Bilanz cited company sources as saying.

"Influential supervisory board members" are pressing for CFO Lohr to be appointed CEO before the annual general meeting on May 11, the magazine said.

Officials at K+S were not immediately available for comment.

Steiner said this month he expected to retire in May 2017 when his contract runs out.

Last year, CEO Steiner fended off a 41-euro-per share takeover approach from larger Canadian rival Potash Corp , which withdrew its proposal in October.

K+S has seen its share price drop to 21 euros, hurt by lower global potash prices.

(Reporting by Ludwig Burger and Patricia Weiss; Editing by Jonathan Gould)