Thyssenkrupp`s interim chief executive dismissed speculation that it would pull out of its steel joint venture with India`s Tata Steel in the wake of management upheaval at the German industrial conglomerate.

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Last week, media reports said the implementation of the landmark deal, signed in late June, was stalling over the sudden departure of Thyssenkrupp`s CEO Heinrich Hiesinger, the main architect of the transaction.

"The contrary is the case," Guido Kerkhoff told Reuters on the sidelines of a company event in Duisburg on Thursday. "We are continuing to implement the joint venture with Tata Steel with all our strength."

The deal will create Europe`s second-largest steelmaker after ArcelorMittal and is expected to close at the end of this year or in early 2019, giving Thyssenkrupp a way to cut capacity in the volatile steel market.

Kerkhoff has taken the helm until a long-term successor has been found for Hiesinger. Sources told Reuters last week that he could eventually become a permanent candidate for the top job himself if a restructuring of the industrials unit goes well.

Ingo Speich, fund manager at Thyssenkrupp shareholder Union Investment, said that Kerkhoff could also serve as chief operating officer alongside a new CEO.

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Whoever will take over at the group on a long-term basis is facing a debate over whether Thyssenkrupp`s conglomerate structure still makes sense. Activist fund Elliott on Thursday reiterated it was not in favour of a breakup.