ANDERNACH, Germany, July 8 (UPI) -- Three members of the board of directors of a German tinplate manufacturer have resigned after being accused of misusing company funds.
Steel giant Thyssen-Krupp forced the three executives from its subsidiary, Rasselstein, to resign, the German daily Sueddeutsche Zeitung said Friday.
The executives, among them Rasselstein's CEO Konrad Noertersheuser, are accused of diverting company funds for private purposes, the newspaper said.
Rasselstein's parent company has not publicly accused the executives.
Thyssen-Krupp Steel has said Noertershauser has left Rasselstein for "private reasons."
The other two managers, the company told the newspaper, are "simply switching positions due to normal job rotation."
With yearly sales of more than 860 million euros ($1.03 billion) and roughly 2,500 employees, Rasselstein is one of the three leading manufacturers of tinplate, which is used to produce tin cans, the newspaper said.
