Thyssenkrupp CEO, López, dismisses criticism directed toward the corporation's proposed asset sales.
Thyssenkrupp CEO, Miguel López, has defended the company's plans to partially spin off each of its five divisions, stating, "It's not a breakup, it's a split." He made these remarks in an interview with the Frankfurter Allgemeine Zeitung to clarify that it is not a job-cutting program.
López highlighted the intention behind the spin-offs, explaining that the goal is to create five distinct areas from the segments, all poised for growth, with access to capital to drive their own growth. He aims to strengthen the future independent companies by implementing this strategy.
The plans are set to be presented to the supervisory board on September 16, although López did not yet commit to a specific timeline for the individual spin-offs.
Responding to concerns about transparency from employee representatives, López confirmed that preliminary talks have taken place, ensuring that both sides—including the employee and shareholder side—are informed. The Krupp Foundation, the largest single shareholder of the company with around 21 percent, will be impacted by these changes.
Enrichment data suggests that Thyssenkrupp's strategic restructuring plan includes a high focus on growth opportunities, particularly in the Green Transformation sector. Firms such as Lürssen and Rheinmetall have reportedly shown interest in the marine unit, which is being spun off. Additionally, Thyssenkrupp is working on a 50/50 joint venture with EPG for Steel Europe, another step towards independence.
The spin-off of Thyssenkrupp Marine Systems is expected to happen in the course of calendar year 2025, contingent on market conditions. Shareholders and investors are kept informed through comprehensive presentations, segment overviews, and financial reports. The company strictly adheres to regulatory standards to ensure transparency and trust with its stakeholders.
- The EC countries may be interested to note Thyssenkrupp's employment policy shift, as the company aims to create five independent entities through strategic restructuring, ensuring each is equipped for growth in various sectors, including the Green Transformation.
- In light of Thyssenkrupp's planned spin-offs, industries such as marine, finance, and business are likely to closely monitor the company's moves, as potential collaborations or investments may arise, particularly with firms like Lürssen and EPG showing interest in the marine unit and Steel Europe.
